Energy Opportunities Capital Management buys $7,542,733 stake in RPC (RES)

RPC (RES) : Energy Opportunities Capital Management scooped up 38,718 additional shares in RPC during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 487,887 shares of RPC which is valued at $7,542,733.RPC makes up approximately 2.31% of Energy Opportunities Capital Management’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc reduced its stake in RES by selling 321 shares or 5.28% in the most recent quarter. The Hedge Fund company now holds 5,755 shares of RES which is valued at $88,972.Blackrock Group Ltd boosted its stake in RES in the latest quarter, The investment management firm added 11,875 additional shares and now holds a total of 53,652 shares of RPC which is valued at $829,460.Stephens Inc Ar boosted its stake in RES in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 387 shares of RPC which is valued at $5,724.

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.

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