Ted Collins, Jr. Sells 21,000 Shares of RSP Permian Inc. (RSPP) Stock
RSP Permian Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $34.67, for a total value of $728,070.00. Following the completion of the transaction, the director now owns 8,506,088 shares of the company’s stock, valued at $294,906,070.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
RSP Permian Inc. (NYSE:RSPP) opened at 37.86 on Friday. The firm has a 50 day moving average price of $38.35 and a 200 day moving average price of $34.04. RSP Permian Inc. has a 12-month low of $16.74 and a 12-month high of $40.74. The company’s market cap is $3.85 billion.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The firm earned $81.50 million during the quarter, compared to analyst estimates of $71.12 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that RSP Permian Inc. will post ($0.19) earnings per share for the current fiscal year.
RSPP has been the subject of a number of research reports. Wells Fargo & Co. initiated coverage on RSP Permian in a research note on Wednesday, August 24th. They issued an “outperform” rating and a $16.74 target price for the company. Nomura restated a “buy” rating and issued a $17.00 target price on shares of RSP Permian in a research note on Monday. FBR & Co initiated coverage on RSP Permian in a research note on Tuesday, September 13th. They issued an “outperform” rating for the company. Roth Capital restated a “buy” rating on shares of RSP Permian in a research note on Tuesday, July 12th. Finally, Morgan Stanley initiated coverage on RSP Permian in a research note on Thursday, July 21st. They issued an “equal weight” rating and a $43.00 target price for the company. Seven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $36.66.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in RSP Permian during the fourth quarter valued at about $12,934,000. Raymond James Trust N.A. acquired a new position in RSP Permian during the first quarter valued at about $266,000. Virginia Retirement System purchased a new stake in shares of RSP Permian during the first quarter valued at $299,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of RSP Permian during the first quarter valued at $248,000. Finally, Teachers Advisors Inc. boosted its stake in shares of RSP Permian by 2.2% in the first quarter. Teachers Advisors Inc. now owns 2,705,718 shares of the company’s stock valued at $78,574,000 after buying an additional 58,769 shares in the last quarter. 86.36% of the stock is owned by hedge funds and other institutional investors.
About RSP Permian
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
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