First Trust Advisors LP lowered its stake in RSP Permian, Inc. (NYSE:RSPP) by 21.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,191 shares of the oil and natural gas company’s stock after selling 32,834 shares during the period. First Trust Advisors LP owned approximately 0.08% of RSP Permian worth $3,943,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. 1st Global Advisors Inc. increased its stake in shares of 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 in the last quarter. Teacher Retirement System of Texas increased its stake in shares of RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock valued at $335,000 after buying an additional 331 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of RSP Permian by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,236 shares of the oil and natural gas company’s stock valued at $1,708,000 after buying an additional 450 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of RSP Permian by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 58,530 shares of the oil and natural gas company’s stock valued at $2,425,000 after buying an additional 598 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of RSP Permian by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 27,795 shares of the oil and natural gas company’s stock valued at $1,151,000 after buying an additional 688 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

Shares of RSP Permian, Inc. (NYSE RSPP) opened at 31.37 on Friday. RSP Permian, Inc. has a 52 week low of $29.31 and a 52 week high of $46.92. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 57.88 and a beta of 2.15. The firm has a 50 day moving average price of $32.15 and a 200 day moving average price of $36.34.

RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $183.10 million for the quarter, compared to analysts’ expectations of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The company’s revenue was up 124.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. Equities analysts forecast that RSP Permian, Inc. will post $0.73 EPS for the current year.

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RSPP has been the subject of several research reports. Scotiabank set a $43.00 target price on RSP Permian and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $42.00 target price on RSP Permian and gave the company a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded RSP Permian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Northland Securities set a $52.00 target price on RSP Permian and gave the company a “buy” rating in a research report on Monday, August 21st. Finally, Bank of America Corporation initiated coverage on RSP Permian in a research report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 target price for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.67.

In related news, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $34.49, for a total value of $1,448,580.00. Following the transaction, the director now directly owns 8,270,351 shares of the company’s stock, valued at approximately $285,244,405.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven D. Gray bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the acquisition, the chief executive officer now owns 311,688 shares in the company, valued at approximately $9,347,523.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 227,560 shares of company stock worth $7,403,153. 15.00% of the stock is owned by insiders.

RSP Permian Company Profile

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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