34,812 Shares in RSP Permian, Inc. (RSPP) Acquired by Howard Hughes Medical Institute
Howard Hughes Medical Institute purchased a new position in shares of RSP Permian, Inc. (NYSE:RSPP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 34,812 shares of the oil and natural gas company’s stock, valued at approximately $1,123,000.
Other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of RSP Permian by 65.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after purchasing an additional 1,705 shares during the period. 1st Global Advisors Inc. raised its holdings in shares of RSP Permian by 1.9% in the 1st quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock valued at $273,000 after purchasing an additional 121 shares during the period. Two Sigma Securities LLC bought a new stake in shares of RSP Permian in the 1st quarter valued at about $279,000. Lucas Capital Management bought a new stake in shares of RSP Permian in the 2nd quarter valued at about $290,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of RSP Permian by 19.5% in the 2nd 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 purchasing an additional 1,579 shares during the period. 86.60% of the stock is currently owned by institutional investors.
RSP Permian, Inc. (NYSE:RSPP) traded up 0.22% during trading on Friday, hitting $31.23. 2,252,877 shares of the stock traded hands. The company has a 50-day moving average price of $31.28 and a 200-day moving average price of $35.61. RSP Permian, Inc. has a 12 month low of $28.76 and a 12 month high of $46.92. The stock has a market cap of $4.95 billion, a PE ratio of 57.62 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. During the same quarter in the prior year, the company earned ($0.04) EPS. The firm’s revenue was up 124.7% on a year-over-year basis. Equities research analysts expect that RSP Permian, Inc. will post $0.73 EPS for the current year.
A number of brokerages have recently issued reports on RSPP. Williams Capital began coverage on shares of RSP Permian in a report on Monday, June 12th. They issued a “buy” rating and a $47.00 target price on the stock. TheStreet cut shares of RSP Permian from a “b-” rating to a “c” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of RSP Permian in a report on Friday, June 16th. ValuEngine cut shares of RSP Permian from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Bank of America Corporation initiated coverage on shares of RSP Permian in a report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 target price on the stock. 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. RSP Permian has a consensus rating of “Buy” and an average target price of $47.67.
In other news, CEO Steven D. Gray purchased 10,000 shares of the 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 acquisition, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Zane W. Arrott sold 47,113 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now owns 86,614 shares of the company’s stock, valued at $2,710,152.06. The disclosure for this sale can be found here. Insiders sold a total of 248,560 shares of company stock valued at $7,898,543 in the last ninety days. 15.00% of the stock is owned by corporate insiders.
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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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