Piper Sandler Lifts RPC Target While Keeping Cautious Stance

RPC, Inc. (NYSE:RES) is included among the 13 Best Debt Free Dividend Stocks to Buy Now.

On December 18, Piper Sandler analyst Derek Podhaizer raised the firm’s price target on RPC, Inc. (NYSE:RES) to $5 from $4 and maintained an Underweight rating. The firm stated that, although 2025 proved challenging, the industry demonstrated resilience once again. Companies turned inward, focused on execution, and leaned into new growth paths.

Looking ahead to 2026, Piper remains selective. Still, it sees early signs of improvement. Cyclical tailwinds are starting to build, including Saudi Arabia and Mexico returning to work, and signs that the US land market may be finding a floor. Offshore activity is viewed as more of a 2027 story.

In its third-quarter 2025 earnings, RPC, Inc. (NYSE:RES) reported sequential revenue growth. Most segments contributed, with the strongest results coming from pressure pumping, coiled tubing, and downhole tools. Service lines outside of pressure pumping accounted for 72% of total revenue and posted a 3% sequential increase. Management pointed to Thru-Tubing Solutions as a leader in downhole technology. The A10 downhole motor has now logged more than 100 runs with major operators and is helping the company gain share.

Full-year 2025 capital spending is expected to range from $170 million to $190 million. Most of that is earmarked for maintenance, selective asset purchases, and upgrades to IT systems. In the fourth quarter, RPC, Inc. (NYSE:RES) plans to liquidate its terminated supplemental executive retirement plan. That move is expected to result in about $8 million of net cash and a one-time increase in the effective tax rate.

RPC, Inc. (NYSE:RES) offers a wide range of specialized oilfield services and equipment. Its customers include both independent and major oilfield companies involved in the exploration, production, and development of oil and gas properties across selected US and international markets.

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