Eagle Asset Management Inc. Raises Stake in RSP Permian, Inc. (RSPP)

Eagle Asset Management Inc. grew its holdings in RSP Permian, Inc. (NYSE:RSPP) by 21.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,836,027 shares of the oil and natural gas company’s stock after purchasing an additional 669,488 shares during the period. RSP Permian comprises 0.8% of Eagle Asset Management Inc.’s portfolio, making the stock its 14th largest holding. Eagle Asset Management Inc. owned about 2.42% of RSP Permian worth $133,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of RSP Permian by 11.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock valued at $321,513,000 after buying an additional 1,054,281 shares in the last quarter. Boston Partners grew its stake in shares of RSP Permian by 0.9% in the 3rd quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock valued at $254,606,000 after buying an additional 69,145 shares in the last quarter. FMR LLC grew its stake in shares of RSP Permian by 5.9% in the 2nd quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after buying an additional 300,249 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of RSP Permian by 38.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after buying an additional 1,073,137 shares in the last quarter. Finally, Third Point LLC grew its stake in shares of RSP Permian by 92.5% in the 2nd quarter. Third Point LLC now owns 3,850,000 shares of the oil and natural gas company’s stock valued at $124,240,000 after buying an additional 1,850,000 shares in the last quarter. Institutional investors own 83.77% of the company’s stock.

In other RSP Permian news, CEO Steven D. Gray acquired 10,000 shares of RSP Permian stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $29.99 per share, with a total value of $299,900.00. Following the completion of the transaction, the chief executive officer now owns 311,688 shares of the company’s stock, valued at $9,347,523.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $35.61, for a total value of $1,495,620.00. Following the completion of the sale, the director now directly owns 8,052,851 shares of the company’s stock, valued at $286,762,024.11. The disclosure for this sale can be found here. Insiders have sold 180,447 shares of company stock valued at $6,020,757 in the last ninety days. Company insiders own 15.00% of the company’s stock.

Shares of RSP Permian, Inc. (NYSE:RSPP) traded up $0.81 during trading on Friday, reaching $37.29. The company’s stock had a trading volume of 747,752 shares, compared to its average volume of 2,223,464. The company has a market capitalization of $5,914.16, a PE ratio of 61.13, a P/E/G ratio of 1.83 and a beta of 2.15. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. RSP Permian, Inc. has a 52-week low of $28.76 and a 52-week high of $46.92.

RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $201.34 million. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The company’s revenue was up 115.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. analysts expect that RSP Permian, Inc. will post 0.79 EPS for the current year.

RSPP has been the subject of several recent research reports. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Wednesday, October 11th. KeyCorp reissued a “buy” rating and issued a $49.00 price target on shares of RSP Permian in a research note on Tuesday, October 24th. ValuEngine cut RSP Permian from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub raised RSP Permian from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Finally, Stifel Nicolaus set a $43.00 price target on RSP Permian and gave the company a “buy” rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $47.00.

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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.

Institutional Ownership by Quarter for RSP Permian (NYSE:RSPP)

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