Pine River Capital Management L.P. Boosts Holdings in RSP Permian, Inc. (RSPP)
Pine River Capital Management L.P. boosted its position in RSP Permian, Inc. (NYSE:RSPP) by 78.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 373,174 shares of the oil and natural gas company’s stock after purchasing an additional 164,174 shares during the quarter. RSP Permian makes up 0.4% of Pine River Capital Management L.P.’s portfolio, making the stock its 21st biggest position. Pine River Capital Management L.P. owned approximately 0.24% of RSP Permian worth $12,042,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its stake in shares of RSP Permian by 65.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after acquiring an additional 1,705 shares during the last quarter. Gluskin Sheff & Assoc Inc. purchased a new stake in shares of RSP Permian in the second quarter worth $210,000. GSA Capital Partners LLP purchased a new stake in shares of RSP Permian in the second quarter worth $225,000. Two Sigma Securities LLC purchased a new stake in shares of RSP Permian in the first quarter worth $279,000. Finally, Lucas Capital Management purchased a new stake in shares of RSP Permian in the second quarter worth $290,000. Institutional investors and hedge funds own 86.57% of the company’s stock.
Several research firms recently commented on RSPP. Williams Capital began coverage on RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 price objective on the stock. TheStreet cut RSP Permian from a “b-” rating to a “c” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 price objective on shares of RSP Permian in a research report on Friday, June 16th. ValuEngine cut RSP Permian from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Piper Jaffray Companies dropped their price objective on RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian currently has a consensus rating of “Buy” and an average target price of $47.29.
Shares of RSP Permian, Inc. (NYSE:RSPP) traded up 0.23% during trading on Friday, hitting $34.59. The stock had a trading volume of 2,130,929 shares. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 63.82 and a beta of 2.15. The firm’s 50-day moving average is $31.13 and its 200 day moving average is $35.42. RSP Permian, Inc. has a 52-week low of $28.76 and a 52-week high of $46.92.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. On average, analysts expect that RSP Permian, Inc. will post $0.73 EPS for the current year.
In related news, COO Zane W. Arrott sold 47,113 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $31.29, for a total value of $1,474,165.77. Following the completion of the transaction, the chief operating officer now directly owns 86,614 shares in the company, valued at $2,710,152.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven D. Gray acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price of $29.99 per share, with a total value of $299,900.00. Following the completion of the transaction, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The disclosure for this purchase can be found here. Insiders sold 248,560 shares of company stock valued at $7,898,543 over the last quarter. 15.00% of the stock is currently owned by company 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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