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RPC, Inc. (RES) provides a range of oilfield services and equipment for oil and gas companies involved in the exploration, production, and development of oil and gas properties in the United States, Africa, Canada, Argentina, China, Mexico, Eastern Europe, Latin America, and the Middle East.
The company operates in two segments, Technical Services and Support Services.
The Technical Services segment offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
The Support Services segment provides a range of rental tools, including blowout preventors, high pressure manifolds and valves, Hevi-wate drill pipes, tubing products, production related rental tools, pumps, diverters, drill pipes, drill collars, handling tools, Coflexip hoses, and Wear Knot drill pipes that are used for onshore and offshore oil and gas well drilling, completion, and workover activities.
It also offers oilfield pipe inspection, and pipe management and storage services; and oilfield training and consulting services.
Shares have formed a bullish "double bottom" and are in the process of moving higher out of this formation. Note the 50-day moving average showin in brown.
52-Weeks Trading Range: $16.63 - $27.07
Entry Point: $26.40
Stop Loss: $25.10
Target Price: $29.05
RES closed at $25
