Cider Mill Investments LP purchased a new position in RSP Permian Inc (NYSE:RSPP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 106,877 shares of the oil and natural gas company’s stock, valued at approximately $4,348,000. RSP Permian comprises 1.8% of Cider Mill Investments LP’s portfolio, making the stock its 24th biggest holding. Cider Mill Investments LP owned approximately 0.07% of RSP Permian as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of RSPP. American International Group Inc. acquired a new position in shares of RSP Permian in the fourth quarter worth $119,000. Cerebellum GP LLC acquired a new position in shares of RSP Permian in the fourth quarter worth $130,000. Cadence Capital Management LLC acquired a new position in shares of RSP Permian in the fourth quarter worth $206,000. CIBC Asset Management Inc acquired a new position in shares of RSP Permian in the fourth quarter worth $217,000. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of RSP Permian in the third quarter worth $233,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of RSP Permian Inc (NYSE:RSPP) opened at $41.43 on Tuesday. The stock has a market capitalization of $6,530.00, a PE ratio of 17.41, a PEG ratio of 0.55 and a beta of 1.91. RSP Permian Inc has a 1 year low of $28.76 and a 1 year high of $43.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72.
In related news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $41.47, for a total value of $1,741,740.00. Following the completion of the sale, the director now owns 7,968,851 shares in the company, valued at $330,468,250.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Wallace Family Partnership, Lp sold 29,877 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $42.58, for a total transaction of $1,272,162.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,500 shares of company stock worth $4,401,033. 15.00% of the stock is currently owned by company insiders.
RSPP has been the topic of several analyst reports. Royal Bank of Canada increased their target price on shares of RSP Permian from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, November 13th. BMO Capital Markets set a $46.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Barclays increased their target price on shares of RSP Permian from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Scotiabank reissued a “buy” rating and set a $43.00 target price on shares of RSP Permian in a research report on Wednesday, November 22nd. Finally, Northland Securities set a $48.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.39.
ILLEGAL ACTIVITY NOTICE: “Cider Mill Investments LP Takes $4.35 Million Position in RSP Permian Inc (RSPP)” was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2018/03/13/cider-mill-investments-lp-takes-4-35-million-position-in-rsp-permian-inc-rspp.html.
About RSP Permian
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.