RSP Permian, Inc. (RSPP) Director Sells $654,150.00 in Stock
RSP Permian, Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $31.15, for a total transaction of $654,150.00. Following the transaction, the director now owns 8,136,851 shares in the company, valued at approximately $253,462,908.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
RSP Permian, Inc. (NYSE:RSPP) traded down 2.72% during mid-day trading on Friday, reaching $29.37. 2,604,134 shares of the company were exchanged. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 54.19 and a beta of 2.15. The stock’s 50-day moving average price is $31.89 and its 200-day moving average price is $36.03.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. RSP Permian’s revenue was up 124.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. On average, equities research analysts anticipate that RSP Permian, Inc. will post $0.73 EPS for the current fiscal year.
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RSPP has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $55.00 price objective on shares of RSP Permian in a research report on Friday, May 12th. Barclays PLC reiterated an “overweight” rating and set a $46.00 price objective (up previously from $44.00) on shares of RSP Permian in a research report on Wednesday, May 17th. TheStreet upgraded shares of RSP Permian from a “c” rating to a “b” rating in a research report on Monday, May 22nd. Credit Suisse Group initiated coverage on shares of RSP Permian in a research report on Thursday, June 1st. They set an “outperform” rating and a $59.00 price objective on the stock. Finally, Williams Capital initiated coverage on shares of RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. RSP Permian has an average rating of “Buy” and a consensus price target of $47.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSPP. BNP Paribas Arbitrage SA grew its position in RSP Permian by 65.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after acquiring an additional 1,705 shares in the last quarter. Gluskin Sheff & Assoc Inc. purchased a new position in shares of RSP Permian in the 2nd quarter valued at about $210,000. Sentry Investment Management LLC purchased a new position in shares of RSP Permian in the 2nd quarter valued at about $210,000. GSA Capital Partners LLP purchased a new position in shares of RSP Permian in the 2nd quarter valued at about $225,000. Finally, 1st Global Advisors Inc. boosted its stake in shares of RSP Permian by 1.9% in the 1st quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 121 shares during the period. 86.60% of the stock is owned by institutional investors.
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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