Corecommodity Management Lowers stake in RPC (RES)

RPC (RES) : Corecommodity Management reduced its stake in RPC by 0.13% during the most recent quarter end. The investment management company now holds a total of 84,714 shares of RPC which is valued at $1,309,678 after selling 108 shares in RPC , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.RPC makes up approximately 1.27% of Corecommodity Management’s portfolio.

Other Hedge Funds, Including , Wasatch Advisors Inc reduced its stake in RES by selling 115,098 shares or 16.73% in the most recent quarter. The Hedge Fund company now holds 573,032 shares of RES which is valued at $8,859,075. RPC makes up approx 0.13% of Wasatch Advisors Inc’s portfolio.Bokf Na reduced its stake in RES by selling 22,078 shares or 28.0% in the most recent quarter. The Hedge Fund company now holds 56,784 shares of RES which is valued at $877,881. RPC makes up approx 0.03% of Bokf Na’s portfolio.Stephens Investment Management Group boosted its stake in RES in the latest quarter, The investment management firm added 7,188 additional shares and now holds a total of 1,093,448 shares of RPC which is valued at $16,172,096. RPC makes up approx 0.50% of Stephens Investment Management Group’s portfolio.Utah Retirement Systems boosted its stake in RES in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 10,560 shares of RPC which is valued at $149,741.Jennison Associates reduced its stake in RES by selling 137,196 shares or 7.48% in the most recent quarter. The Hedge Fund company now holds 1,697,177 shares of RES which is valued at $24,065,970. RPC makes up approx 0.03% of Jennison Associates’s portfolio.

RPC closed down -0.03 points or -0.20% at $15.23 with 950,208 shares getting traded on Wednesday. Post opening the session at $15.3, the shares hit an intraday low of $15.16 and an intraday high of $15.42 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, RPC reported $-0.23 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $-0.23. The company had revenue of $143.00 million for the quarter, compared to analysts expectations of $151.40 million. The company’s revenue was down -51.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.16 EPS.

RPC Inc. (RPC) is an oilfield services holding company. The Company provides a specialized oilfield services and equipment to independent and oil and gas companies engaged in the exploration production and development of oil and gas properties. The services and equipment provided include pressure pumping services downhole tool services coiled tubing services snubbing services nitrogen services the rental of drill pipe and other specialized oilfield equipment and well control. The Company’s service lines include two segments in oil and gas services business segments: Technical Services and Support Services. RPC acts as a holding company for its operating units Cudd Energy Services Patterson Rental and Fishing Tools Bronco Oilfield Services Thru Tubing Solutions Well Control School and others.

Leave a Reply

RPC - Is it time to Sell?

Top Brokerage Firms are advising their investors on RPC. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.