Capital Fund Management S.A. raised its holdings in shares of RSP Permian, Inc. (NYSE:RSPP) by 222.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 328,187 shares of the oil and natural gas company’s stock after acquiring an additional 226,437 shares during the quarter. Capital Fund Management S.A. owned approximately 0.21% of RSP Permian worth $10,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. CI Investments Inc. lifted its stake in shares of RSP Permian by 25.9% during the 2nd quarter. CI Investments Inc. now owns 674,900 shares of the oil and natural gas company’s stock valued at $21,779,000 after buying an additional 139,000 shares in the last quarter. CIBC World Markets Inc. purchased a new position in shares of RSP Permian during the 2nd quarter valued at $931,000. Schroder Investment Management Group lifted its stake in shares of RSP Permian by 16.7% during the 2nd quarter. Schroder Investment Management Group now owns 577,216 shares of the oil and natural gas company’s stock valued at $18,275,000 after buying an additional 82,787 shares in the last quarter. Capital Advisors Inc. OK purchased a new position in shares of RSP Permian during the 2nd quarter valued at $7,907,000. Finally, Cipher Capital LP lifted its stake in shares of RSP Permian by 54.7% during the 2nd quarter. Cipher Capital LP now owns 82,238 shares of the oil and natural gas company’s stock valued at $2,654,000 after buying an additional 29,094 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.
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A number of research firms recently weighed in on RSPP. Williams Capital began coverage on shares of RSP Permian in a research note on Monday, June 12th. They set a “buy” rating and a $47.00 target price on the stock. TheStreet cut shares of RSP Permian from a “b-” rating to a “c” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $55.00 price target on shares of RSP Permian in a research note on Friday, June 16th. ValuEngine cut shares of RSP Permian from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Bank of America Corporation assumed coverage on shares of RSP Permian in a research note on Wednesday, July 19th. They issued a “buy” rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $47.67.
In other news, VP James E. Mutrie sold 12,447 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $31.47, for a total transaction of $391,707.09. Following the transaction, the vice president now directly owns 38,005 shares in the company, valued at approximately $1,196,017.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Zane W. Arrott sold 47,113 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the transaction, the chief operating officer now owns 86,614 shares in the company, valued at $2,710,152.06. The disclosure for this sale can be found here. Insiders have sold a total of 248,560 shares of company stock worth $7,898,543 over the last ninety days. 15.00% of the stock is owned by corporate insiders.
Shares of RSP Permian, Inc. (NYSE RSPP) traded up 0.22% during trading on Friday, reaching $31.23. 2,252,877 shares of the company’s stock were exchanged. The stock has a market cap of $4.95 billion, a P/E ratio of 57.62 and a beta of 2.15. RSP Permian, Inc. has a 12-month low of $28.76 and a 12-month high of $46.92. The company has a 50 day moving average of $31.28 and a 200 day moving average of $35.61.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company had revenue of $183.10 million for the quarter, compared to analysts’ expectations of $185.01 million. During the same period last year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. Equities research analysts anticipate that RSP Permian, Inc. will post $0.73 EPS for the current year.
RSP Permian Company Profile
RSP Permian, Inc is an independent oil and natural gas company. The Company is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The Company’s properties are located on contiguous acreage blocks in the Midland Basin, and the Delaware Basin, both sub-basins of the Permian Basin.
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