RSP Permian, Inc. (RSPP) Director Sells $1,459,080.00 in Stock
RSP Permian, Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $34.74, for a total value of $1,459,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of RSP Permian, Inc. (NYSE:RSPP) traded down 1.62% during midday trading on Friday, reaching $34.07. 960,179 shares of the company were exchanged. The company has a market capitalization of $5.40 billion, a PE ratio of 62.86 and a beta of 2.17. The stock’s 50-day moving average price is $31.88 and its 200-day moving average price is $35.01. RSP Permian, Inc. has a 52-week low of $28.76 and a 52-week high of $46.92.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, beating 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 business had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. During the same period in the previous year, the business posted ($0.04) EPS. The company’s quarterly revenue was up 124.7% on a year-over-year basis. Analysts anticipate that RSP Permian, Inc. will post $0.74 EPS for the current year.
A number of research analysts have weighed in on the stock. Stifel Nicolaus set a $43.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research note on Thursday. Northland Securities reissued a “buy” rating and issued a $52.00 target price on shares of RSP Permian in a research note on Tuesday, September 26th. BidaskClub raised shares of RSP Permian from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Piper Jaffray Companies decreased their target price on shares of RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Finally, ValuEngine lowered shares of RSP Permian from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.44.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sentry Investment Management LLC bought a new stake in RSP Permian in the 2nd quarter valued at about $210,000. Dynamic Technology Lab Private Ltd bought a new stake in RSP Permian in the 2nd quarter valued at about $1,003,000. Public Employees Retirement System of Ohio bought a new stake in RSP Permian in the 2nd quarter valued at about $1,892,000. Verition Fund Management LLC bought a new stake in RSP Permian in the 2nd quarter valued at about $310,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in RSP Permian in the 2nd quarter valued at about $6,454,000. 86.57% of the stock is owned by institutional investors and hedge funds.
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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