RPC (NYSE:RES) Should Benefit from Tightened Supplies

While the pressure pumping market continues to improve, tools for supplying the industry are tight, and that should strongly benefit RPC (NYSE:RES) as the sector rebounds.

Canaccord said, "We reiterate our rating as we believe RES stands to benefit from higher pricing and margins as the pressure pumping market continues to strengthen. The company remains well positioned with pressure pumping, coiled tubing, downhole tools, and rentals, which together are some of the most undersupplied services currently in the oil patch."

Canaccord Genuity reiterates a "Buy' on RPC Inc., which closed Tuesday at $19.67, down $1.24, or 5.93 percent. They have a price target of $24.67 on them.