When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
RES - RPC Inc. Can Cut Pressure Pumping Fleet Aggressively In Q4
RPC Inc.
RES Has Not Moved Past The Downside
RPC Inc. (RES) provides specialized oilfield services and equipment primarily to E&P producers in the U.S. and international markets. I do not think the stock will turn around in the short to medium term. As the pressure pumping fleets are stacked across the industry, I expect the equilibrium to be reached in 2020. At that point, the stock price will start moving upward.
The company has decided to cut down on the pressure pumping fleet count in Q4. The Thru Tubing and coiled tubing businesses also