RSP Permian, Inc. (RSPP) Shares Sold by State of Wisconsin Investment Board
State of Wisconsin Investment Board reduced its stake in shares of RSP Permian, Inc. (NYSE:RSPP) by 20.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,995 shares of the oil and natural gas company’s stock after selling 69,920 shares during the period. State of Wisconsin Investment Board owned approximately 0.17% of RSP Permian worth $8,939,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. 1st Global Advisors Inc. increased its position in RSP Permian by 1.9% in the first quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 121 shares during the last quarter. Two Sigma Securities LLC purchased a new position in RSP Permian during the first quarter valued at approximately $279,000. Lucas Capital Management purchased a new position in RSP Permian during the second quarter valued at approximately $290,000. Teacher Retirement System of Texas increased its position in RSP Permian by 19.5% in the second quarter. Teacher Retirement System of Texas now owns 9,670 shares of the oil and natural gas company’s stock valued at $312,000 after buying an additional 1,579 shares during the last quarter. Finally, Goodwin Daniel L purchased a new position in RSP Permian during the second quarter valued at approximately $323,000. Hedge funds and other institutional investors own 78.60% of the company’s stock.
RSP Permian, Inc. (NYSE RSPP) opened at 30.74 on Friday. RSP Permian, Inc. has a 12 month low of $29.67 and a 12 month high of $46.92. The company’s 50-day moving average price is $32.40 and its 200 day moving average price is $36.72. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 56.72 and a beta of 2.13.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. During the same period in the previous year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. Analysts forecast that RSP Permian, Inc. will post $0.72 EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on RSPP shares. Royal Bank Of Canada reissued a “buy” rating and set a $44.00 price target on shares of RSP Permian in a research report on Thursday, July 20th. Credit Suisse Group started coverage on RSP Permian in a research report on Thursday, June 1st. They set an “outperform” rating and a $59.00 price target on the stock. Zacks Investment Research downgraded RSP Permian from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Bank of America Corporation started coverage on RSP Permian in a research report on Wednesday, July 19th. They set a “buy” rating and a $45.00 price target on the stock. Finally, FBR & Co reissued an “outperform” rating and set a $44.00 price target (down previously from $51.00) on shares of RSP Permian in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.67.
In related news, COO Zane W. Arrott sold 47,113 shares of RSP Permian stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the completion of the transaction, the chief operating officer now directly owns 86,614 shares of the company’s stock, valued at approximately $2,710,152.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $32.65, for a total transaction of $685,650.00. Following the transaction, the director now directly owns 8,178,851 shares of the company’s stock, valued at $267,039,485.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,113 shares of company stock valued at $7,011,446. 15.00% of the stock is owned by corporate insiders.
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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