Millennium Management LLC raised its holdings in RSP Permian Inc (NYSE:RSPP) by 97.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,529,224 shares of the oil and natural gas company’s stock after purchasing an additional 2,240,454 shares during the quarter. Millennium Management LLC owned 2.86% of RSP Permian worth $184,249,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of RSPP. American International Group Inc. purchased a new stake in RSP Permian in the fourth quarter valued at $119,000. Cerebellum GP LLC purchased a new stake in RSP Permian in the fourth quarter valued at $130,000. Cadence Capital Management LLC purchased a new stake in RSP Permian in the fourth quarter valued at $206,000. CIBC Asset Management Inc purchased a new stake in RSP Permian in the fourth quarter valued at $217,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in RSP Permian in the third quarter valued at $233,000. Institutional investors own 90.63% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock 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 issued 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 given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.39.
RSP Permian Inc (NYSE RSPP) opened at $41.22 on Wednesday. RSP Permian Inc has a one year low of $28.76 and a one year high of $43.35. The company 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 current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.35.
RSP Permian (NYSE:RSPP) last released its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. RSP Permian had a return on equity of 3.07% and a net margin of 28.88%. The firm had revenue of $249.02 million during the quarter, compared to analysts’ expectations of $246.71 million. analysts anticipate that RSP Permian Inc will post 2.23 earnings per share for the current fiscal year.
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.
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