Why RPC (RES) is a Top Momentum Stock for the Long-Term

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

RPC (RES)

Atlanta, GA-based RPC, Inc. is an oilfield service provider. The company was founded in 1984. It supplies equipment and services to the oil and natural gas explorers and producers in almost all of the prospective plays like the Rocky Mountain regions, Appalachian area, Gulf of Mexico and other resources in the United States. The company also provides oilfield services in several regions outside the domestic market. It has operations in Africa, Argentina, Canada, China, Eastern Europe, Latin America, Mexico, the Middle East, and other places.

RES sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 0.9% and up 18.5% over the past one-week and four-week period, respectively, and RPC has gained 80.1% in the last one-year period as well. Additionally, an average of 1,287,030.63 shares were traded over the last 20 trading sessions.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0.19 to $0.63 per share. RES boasts an average earnings surprise of 80%.

RES should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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