Arosa Capital Management Lp buys $30,222,765 stake in RPC (RES)

RPC (RES) : Arosa Capital Management Lp scooped up 676,846 additional shares in RPC during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,783,054 shares of RPC which is valued at $30,222,765.RPC makes up approximately 5.66% of Arosa Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Segall Bryant Hamill boosted its stake in RES in the latest quarter, The investment management firm added 89 additional shares and now holds a total of 29,127 shares of RPC which is valued at $493,703. RPC makes up approx 0.01% of Segall Bryant Hamill’s portfolio.Schroder Investment Management Group reduced its stake in RES by selling 86,309 shares or 3.34% in the most recent quarter. The Hedge Fund company now holds 2,500,839 shares of RES which is valued at $43,939,741. RPC makes up approx 0.08% of Schroder Investment Management Group’s portfolio.Blackrock Group Ltd reduced its stake in RES by selling 11,736 shares or 21.87% in the most recent quarter. The Hedge Fund company now holds 41,916 shares of RES which is valued at $716,344.Ifp Advisors Inc reduced its stake in RES by selling 17 shares or 1.48% in the most recent quarter. The Hedge Fund company now holds 1,129 shares of RES which is valued at $18,866.

RPC closed down -0.12 points or -0.67% at $17.88 with 11,67,357 shares getting traded on Monday. Post opening the session at $18.05, the shares hit an intraday low of $17.82 and an intraday high of $18.15 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, RPC reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $-0.21. The company had revenue of $175.90 million for the quarter, compared to analysts expectations of $160.38 million. The company’s revenue was down -39.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.16 EPS.

Many Wall Street Analysts have commented on RPC. Company shares were Reiterated by FBR & Co. on Oct 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .Company shares were Upgraded by Seaport Global Securities on Oct 4, 2016 to ” Neutral”, Firm has raised the Price Target to $ 17 from a previous price target of $14 .

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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