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Strength Seen in RPC (RES): Can Its 5.5% Jump Turn into More Strength?
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RPC (RES - Free Report) shares ended the last trading session 5.5% higher at $6.7. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.7% gain over the past four weeks.
RPC’s shares rallied in the last trading session, driven by optimism around sustained strength in oil and gas activity. Although oil prices have moderated, they remain at favorable levels that are economically attractive for exploration and production companies. This has supported sustained drilling and completion activity, translating into higher demand for RPC’s oilfield services. Given the favorable activity backdrop and solid service demand, the company is well-positioned to generate strong free cash flows over the course of the year.
This oil and gas services company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $425 million, up 26.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RPC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RES going forward to see if this recent jump can turn into more strength down the road.
RPC is a member of the Zacks Oil and Gas - Field Services industry. One other stock in the same industry, Subsea 7 SA (SUBCY - Free Report) , finished the last trading session 2% higher at $25.72. SUBCY has returned 25.1% over the past month.
Subsea 7's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago EPS, this represents a change of +742.9%. Subsea 7 currently boasts a Zacks Rank of #1 (Strong Buy).
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Strength Seen in RPC (RES): Can Its 5.5% Jump Turn into More Strength?
RPC (RES - Free Report) shares ended the last trading session 5.5% higher at $6.7. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.7% gain over the past four weeks.
RPC’s shares rallied in the last trading session, driven by optimism around sustained strength in oil and gas activity. Although oil prices have moderated, they remain at favorable levels that are economically attractive for exploration and production companies. This has supported sustained drilling and completion activity, translating into higher demand for RPC’s oilfield services. Given the favorable activity backdrop and solid service demand, the company is well-positioned to generate strong free cash flows over the course of the year.
This oil and gas services company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $425 million, up 26.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RPC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RES going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RPC is a member of the Zacks Oil and Gas - Field Services industry. One other stock in the same industry, Subsea 7 SA (SUBCY - Free Report) , finished the last trading session 2% higher at $25.72. SUBCY has returned 25.1% over the past month.
Subsea 7's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago EPS, this represents a change of +742.9%. Subsea 7 currently boasts a Zacks Rank of #1 (Strong Buy).