Cushing Asset Management LP lessened its stake in shares of RSP Permian Inc (NYSE:RSPP) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,008 shares of the oil and natural gas company’s stock after selling 44,297 shares during the quarter. Cushing Asset Management LP owned approximately 0.19% of RSP Permian worth $12,530,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. purchased a new stake in shares of RSP Permian during the 4th quarter valued at $119,000. Cerebellum GP LLC purchased a new stake in shares of RSP Permian during the 4th quarter valued at $130,000. Cadence Capital Management LLC purchased a new stake in shares of RSP Permian during the 4th quarter valued at $206,000. CIBC Asset Management Inc purchased a new stake in shares of RSP Permian during the 4th quarter valued at $217,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of RSP Permian during the 3rd quarter valued at $233,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. Zacks Investment Research upgraded RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday, January 23rd. Credit Suisse Group set a $51.00 price objective on RSP Permian and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. BMO Capital Markets reiterated a “buy” rating and set a $51.00 price objective on shares of RSP Permian in a report on Thursday, January 11th. Stifel Nicolaus set a $48.00 price objective on RSP Permian and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Jefferies Group set a $50.00 price objective on RSP Permian and gave the company a “buy” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $49.39.
RSP Permian Inc (NYSE RSPP) opened at $41.22 on Wednesday. The stock has a market capitalization of $6,540.00, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.56 and a beta of 1.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72. RSP Permian Inc has a 52 week low of $28.76 and a 52 week high of $43.35.
RSP Permian (NYSE:RSPP) last issued its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. The company had revenue of $249.02 million during the quarter, compared to analyst estimates of $246.71 million. RSP Permian had a return on equity of 3.07% and a net margin of 28.88%. analysts forecast that RSP Permian Inc will post 2.23 earnings per share for the current fiscal year.
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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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