ProShare Advisors LLC cut its stake in shares of RSP Permian, Inc. (NYSE:RSPP) by 27.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,904 shares of the oil and natural gas company’s stock after selling 4,536 shares during the period. ProShare Advisors LLC’s holdings in RSP Permian were worth $493,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of RSPP. Quantitative Systematic Strategies LLC bought a new stake in shares of RSP Permian during the third quarter valued at about $366,000. Chartwell Investment Partners LLC increased its stake in shares of RSP Permian by 5.9% in the third quarter. Chartwell Investment Partners LLC now owns 562,700 shares of the oil and natural gas company’s stock valued at $21,822,000 after buying an additional 31,275 shares during the period. Lombard Odier Asset Management USA Corp increased its stake in shares of RSP Permian by 18.1% in the third quarter. Lombard Odier Asset Management USA Corp now owns 178,817 shares of the oil and natural gas company’s stock valued at $7,038,000 after buying an additional 27,355 shares during the period. Dai Ichi Life Holdings Inc. increased its stake in shares of RSP Permian by 29.3% in the third quarter. Dai Ichi Life Holdings Inc. now owns 64,233 shares of the oil and natural gas company’s stock valued at $2,491,000 after buying an additional 14,545 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of RSP Permian during the third quarter valued at about $31,509,000. Institutional investors and hedge funds own 77.62% of the company’s stock.
Shares of RSP Permian, Inc. (NYSE:RSPP) traded down 2.53% during midday trading on Friday, reaching $30.49. 4,316,243 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $37.54 and a 200-day moving average of $40.67. The stock has a market capitalization of $4.84 billion, a P/E ratio of 118.64 and a beta of 2.11. RSP Permian, Inc. has a 12-month low of $30.18 and a 12-month high of $46.92.
RSP Permian (NYSE:RSPP) last announced its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. The business had revenue of $169.93 million for the quarter, compared to the consensus estimate of $159.81 million. Analysts anticipate that RSP Permian, Inc. will post $0.98 EPS for the current fiscal year.
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A number of research firms have weighed in on RSPP. Zacks Investment Research raised shares of RSP Permian from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Saturday, March 4th. Williams Capital started coverage on shares of RSP Permian in a research note on Monday, June 12th. They issued a “buy” rating and a $47.00 price objective on the stock. Barclays PLC reissued an “overweight” rating and issued a $44.00 price objective on shares of RSP Permian in a research note on Wednesday, April 26th. TheStreet raised shares of RSP Permian from a “c” rating to a “b” rating in a research note on Monday, May 22nd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price objective on shares of RSP Permian in a research note on Friday. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.76.
In other news, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $40.80, for a total value of $1,713,600.00. Following the transaction, the director now directly owns 8,355,451 shares in the company, valued at $340,902,400.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP William Huck sold 4,000 shares of the company’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $38.31, for a total transaction of $153,240.00. Following the completion of the transaction, the vice president now owns 329,752 shares in the company, valued at $12,632,799.12. The disclosure for this sale can be found here. In the last three months, insiders sold 17,397,000 shares of company stock worth $674,652,100. Insiders own 23.50% of the company’s stock.
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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