RSP Permian, Inc. (RSPP) Director Ted Collins, Jr. Sells 42,000 Shares
RSP Permian, Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $30.71, for a total transaction of $1,289,820.00. Following the sale, the director now owns 8,136,851 shares in the company, valued at $249,882,694.21. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of RSP Permian, Inc. (NYSE RSPP) traded down 2.72% on Friday, reaching $29.37. 2,604,134 shares of the company were exchanged. The stock has a 50 day moving average price of $31.89 and a 200-day moving average price of $36.03. The stock has a market capitalization of $4.66 billion, a P/E ratio of 54.19 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.
RSP Permian (NYSE:RSPP) last posted its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The business had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. During the same period in the prior year, the business earned ($0.04) EPS. RSP Permian’s revenue for the quarter was up 124.7% compared to the same quarter last year. On average, equities analysts expect that RSP Permian, Inc. will post $0.73 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after purchasing an additional 1,705 shares in the last quarter. Gluskin Sheff & Assoc Inc. bought a new stake in RSP Permian during the 2nd quarter worth approximately $210,000. Sentry Investment Management LLC bought a new stake in RSP Permian during the 2nd quarter worth approximately $210,000. 1st Global Advisors Inc. increased its stake in RSP Permian by 1.9% during the 1st quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock worth $273,000 after purchasing an additional 121 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in RSP Permian during the 1st quarter worth approximately $279,000. 86.60% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. Scotiabank set a $43.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $42.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded shares of RSP Permian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Northland Securities set a $52.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Bank of America Corporation assumed coverage on shares of RSP Permian in a research report on Wednesday, July 19th. They set a “buy” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. RSP Permian currently has a consensus rating of “Buy” and a consensus price target of $47.67.
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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