Viking Fund Management LLC lowered its stake in RSP Permian Inc. (NYSE:RSPP) by 14.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the company’s stock after selling 50,000 shares during the period. RSP Permian accounts for approximately 1.9% of Viking Fund Management LLC’s holdings, making the stock its 22nd largest position. Viking Fund Management LLC owned about 0.30% of RSP Permian worth $11,634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RSPP. Boothbay Fund Management LLC increased its position in RSP Permian by 0.4% in the first quarter. Boothbay Fund Management LLC now owns 8,887 shares of the company’s stock valued at $258,000 after buying an additional 39 shares during the last quarter. Raymond James Trust N.A. increased its position in RSP Permian by 0.4% in the second quarter. Raymond James Trust N.A. now owns 9,201 shares of the company’s stock valued at $320,000 after buying an additional 41 shares during the last quarter. Texan Capital Management increased its position in RSP Permian by 2.8% in the second quarter. Texan Capital Management now owns 9,300 shares of the company’s stock valued at $324,000 after buying an additional 250 shares during the last quarter. Geneva Advisors LLC increased its position in RSP Permian by 1.7% in the second quarter. Geneva Advisors LLC now owns 23,298 shares of the company’s stock valued at $813,000 after buying an additional 394 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in RSP Permian by 3.7% in the second quarter. Panagora Asset Management Inc. now owns 11,046 shares of the company’s stock valued at $385,000 after buying an additional 394 shares during the last quarter. Institutional investors and hedge funds own 86.36% of the company’s stock.

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

Shares of RSP Permian Inc. (NYSE:RSPP) traded down 0.12% during mid-day trading on Thursday, hitting $41.81. 875,934 shares of the company were exchanged. The company’s 50-day moving average price is $38.61 and its 200-day moving average price is $34.79. The firm’s market capitalization is $4.25 billion. RSP Permian Inc. has a 12-month low of $16.74 and a 12-month high of $42.56.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The business earned $81.50 million during the quarter, compared to analyst estimates of $71.12 million. During the same period in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts predict that RSP Permian Inc. will post ($0.19) earnings per share for the current fiscal year.

Several equities analysts have commented on the stock. KeyCorp increased their target price on shares of RSP Permian from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Imperial Capital assumed coverage on shares of RSP Permian in a research report on Wednesday, June 15th. They set an “outperform” rating and a $45.00 target price on the stock. Nomura reaffirmed a “buy” rating and issued a $17.00 price target on shares of RSP Permian in a research report on Monday, September 26th. Bank of America Corp. reaffirmed a “buy” rating and issued a $41.00 price target (up from $35.00) on shares of RSP Permian in a research report on Tuesday, June 21st. Finally, Piper Jaffray Cos. raised their price target on RSP Permian from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, July 13th. Six research 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $37.28.

In other RSP Permian news, Director Ted Collins, Jr. sold 21,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $33.77, for a total transaction of $709,170.00. Following the completion of the transaction, the director now directly owns 8,590,088 shares of the company’s stock, valued at approximately $290,087,271.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William Huck sold 6,000 shares of the stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $39.79, for a total value of $238,740.00. Following the transaction, the vice president now directly owns 369,837 shares of the company’s stock, valued at $14,715,814.23. The disclosure for this sale can be found here. 23.50% of the stock is owned by corporate insiders.

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.

5 Day Chart for NYSE:RSPP

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