Sapience Investments LLC cut its holdings in RSP Permian Inc (NYSE:RSPP) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,824 shares of the oil and natural gas company’s stock after selling 13,495 shares during the quarter. RSP Permian accounts for 2.7% of Sapience Investments LLC’s portfolio, making the stock its 7th biggest holding. Sapience Investments LLC owned 0.31% of RSP Permian worth $19,967,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of RSPP. American International Group Inc. purchased a new stake in shares of RSP Permian in the fourth quarter valued at approximately $119,000. Cerebellum GP LLC acquired a new position in shares of RSP Permian in the fourth quarter worth about $130,000. Cadence Capital Management LLC acquired a new position in shares of RSP Permian in the fourth quarter worth about $206,000. CIBC Asset Management Inc acquired a new position in shares of RSP Permian in the fourth quarter worth about $217,000. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of RSP Permian in the third quarter worth about $233,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.
RSP Permian Inc (NYSE:RSPP) opened at $41.34 on Monday. RSP Permian Inc has a fifty-two week low of $28.76 and a fifty-two week high of $43.35. The stock has a market capitalization of $6,591.31, a P/E ratio of 49.81, a P/E/G ratio of 0.55 and a beta of 1.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72.
Several brokerages have issued reports on RSPP. UBS Group began coverage on RSP Permian in a research note on Wednesday, March 7th. They set a “buy” rating and a $50.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $46.00 price objective (up previously from $45.00) on shares of RSP Permian in a research note on Tuesday, December 19th. ValuEngine cut RSP Permian from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut RSP Permian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Northland Securities restated a “buy” rating and set a $55.00 price objective on shares of RSP Permian in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. RSP Permian currently has a consensus rating of “Buy” and an average price target of $49.39.
In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $41.47, for a total transaction of $1,741,740.00. Following the completion of the transaction, the director now directly owns 7,968,851 shares of the company’s stock, valued at approximately $330,468,250.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wallace Family Partnership, Lp sold 29,877 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $42.58, for a total value of $1,272,162.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,500 shares of company stock valued at $4,401,033. 15.00% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: “RSP Permian Inc (RSPP) is Sapience Investments LLC’s 7th Largest Position” was posted by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/03/12/rsp-permian-inc-rspp-is-sapience-investments-llcs-7th-largest-position.html.
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.
Want to see what other hedge funds are holding RSPP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RSP Permian Inc (NYSE:RSPP).
Receive News & Ratings for RSP Permian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RSP Permian and related companies with MarketBeat.com's FREE daily email newsletter.