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Sunoco LP (SUN) - free report >>
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Sunoco LP (SUN) - free report >>
Antero Midstream Corporation (AM) - free report >>
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Here's Why it is Worth Investing in RPC (RES) Stock Right Now
RPC, Inc. (RES - Free Report) has witnessed upward estimate revisions for 2023’s bottom line in the past 60 days. The stock, sporting a Zacks Rank #1 (Strong Buy), is likely to see bottom-line growth of 67.7% this year.
What’s Favoring the Stock?
With West Texas Intermediate crude price approaching the $70-per-barrel mark, oil price is still highly favorable for exploration and production activities. This will possibly again encourage upstream companies to return to shale plays.
Thus, higher upstream activities are beneficial for RPC since the company is engaged in providing specialized oilfield services and equipment, primarily to explorers and producers. RPC added that according to indications from customers, drilling and completion activities will remain solid, driving its overall business. RPC boosted that during the December quarter of 2022, its cash balance jumped by $90.5 million.
RPC reinstated its cash dividend payment in the third quarter of last year. On Jan 25, the company declared that its quarterly dividend has been doubled to 4 cents per share from 2 cents.
Other Stocks to Consider
Other promising players in the energy space include Murphy USA Inc. (MUSA - Free Report) , Sunoco LP (SUN - Free Report) and Antero Midstream Corporation (AM - Free Report) . While Murphy USA and Antero Midstream carry a Zacks Rank #2 (Buy), Sunoco sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA is a well-known name as a prime retailer of gasoline and convenience merchandise. MUSA, having more than 1,700 stores, has witnessed upward earnings estimate revisions in the past 60 days for 2023 earnings.
Sunoco has a stable business model while transporting motor fuel to roughly 10,000 convenience stores. In the past 30 days, Sunoco has witnessed upward earnings estimate revisions for 2023.
Antero Midstream generates stable cashflows, banking on its midstream assets involved in gathering, compression, processing and fractionation activities. The properties are centered around the prolific Appalachian Basin. Over the past 30 days, Antero Midstream has witnessed upward earnings estimate revisions for 2023.