RPC's Shares Surged: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oil-field-services specialist RPC (NYS: RES) spouted gains as large as 11.1% today on modest trading volume.
So what: Oil prices are soaring today while the dollar is getting weaker versus other major world currencies, and that's a terrific combo for American oil businesses. Moreover, extraction giant ConocoPhillips (NYS: COP) just got the go-ahead to start a major drilling operation in Alaska and RPC specializes in all-American projects.
Now what: Hometown rivals Basic Energy Services (NYS: BAS) and Pioneer Drilling (NYS: PDC) are enjoying similar gains today for much the same reasons. If you're trying to choose an oil-field investment in that bunch, consider that RPC pays a healthy dividend while the other two do not. Check out a handful of other dividend ideas, courtesy of Fool analysts.
Interested in more info about RPC? Click here to add it to My Watchlist.
At the time this article was published Fool contributor Anders Bylund holds no position in any of the companies mentioned. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.