Standpoint Downgrades RPC, Inc. (RES)
Standpoint Research downgraded RPC, Inc. (NYSE: RES) today from a Buy to a Hold. Standpoint analyst, Ronnie Moas cited crude oil prices and the fact that the stock is trading at a 52 week high as factors for the downgrade. In the last year, RPC, Inc. (RES) has climbed 110%.
According to Google Finance, "RPC, Inc. provides a range of specialized oilfield services and equipment to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest and Rocky Mountain regions, and in selected international markets."
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