RSP Permian Inc. (RSPP) Stake Cut by Cambiar Investors LLC
Cambiar Investors LLC decreased its position in RSP Permian Inc. (NYSE:RSPP) by 26.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 748,667 shares of the company’s stock after selling 266,587 shares during the period. Cambiar Investors LLC owned 0.74% of RSP Permian worth $26,121,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of RSPP. JPMorgan Chase & Co. increased its position in shares of RSP Permian by 578.4% in the first quarter. JPMorgan Chase & Co. now owns 437,495 shares of the company’s stock worth $12,705,000 after buying an additional 373,005 shares in the last quarter. Viking Fund Management LLC acquired a new position in shares of RSP Permian during the second quarter worth approximately $12,212,000. Bank of Montreal Can acquired a new position in shares of RSP Permian during the second quarter worth approximately $5,758,000. Renaissance Technologies LLC increased its position in shares of RSP Permian by 33.9% in the first quarter. Renaissance Technologies LLC now owns 441,200 shares of the company’s stock worth $12,812,000 after buying an additional 111,800 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of RSP Permian during the first quarter worth approximately $2,608,000. 86.36% of the stock is currently owned by institutional investors.
Shares of RSP Permian Inc. (NYSE:RSPP) traded up 0.23% during trading on Monday, hitting $38.87. 1,269,331 shares of the stock traded hands. The company has a 50 day moving average of $38.40 and a 200-day moving average of $34.28. RSP Permian Inc. has a 1-year low of $16.74 and a 1-year high of $40.74. The company’s market cap is $3.95 billion.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The company had revenue of $81.50 million for the quarter, compared to the consensus estimate of $71.12 million. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that RSP Permian Inc. will post ($0.19) EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Deutsche Bank AG raised their price target on shares of RSP Permian from $39.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Goldman Sachs Group Inc. lowered shares of RSP Permian from a “buy” rating to a “neutral” rating and raised their price target for the company from $38.00 to $39.00 in a report on Wednesday, August 10th. FBR & Co assumed coverage on shares of RSP Permian in a report on Tuesday, September 13th. They set an “outperform” rating for the company. Finally, Wunderlich raised their price target on shares of RSP Permian from $34.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Seven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. RSP Permian presently has a consensus rating of “Buy” and a consensus target price of $37.03.
In related news, VP William Huck sold 6,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $39.73, for a total value of $238,380.00. Following the sale, the vice president now directly owns 381,837 shares in the company, valued at approximately $15,170,384.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ted Collins, Jr. sold 21,000 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $34.67, for a total transaction of $728,070.00. Following the completion of the sale, the director now owns 8,506,088 shares in the company, valued at $294,906,070.96. The disclosure for this sale can be found here. Company insiders own 23.50% of the company’s stock.
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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