Lyon Street Capital LLC Increases Holdings in RSP Permian, Inc. (RSPP)
Lyon Street Capital LLC raised its position in shares of RSP Permian, Inc. (NYSE:RSPP) by 24.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,693 shares of the oil and natural gas company’s stock after buying an additional 21,250 shares during the quarter. RSP Permian comprises 1.4% of Lyon Street Capital LLC’s portfolio, making the stock its 28th largest position. Lyon Street Capital LLC owned approximately 0.07% of RSP Permian worth $3,508,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Teacher Retirement System of Texas raised its stake in RSP Permian by 4.3% during 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. Mutual of America Capital Management LLC grew its holdings in shares of RSP Permian by 0.9% during the second quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock valued at $1,905,000 after purchasing an additional 498 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of RSP Permian by 2.5% during 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 purchasing an additional 688 shares during the last quarter. Comerica Bank grew its holdings in shares of RSP Permian by 8.8% during the first quarter. Comerica Bank now owns 11,117 shares of the oil and natural gas company’s stock valued at $422,000 after purchasing an additional 902 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of RSP Permian by 2.7% during the first quarter. Legal & General Group Plc now owns 35,697 shares of the oil and natural gas company’s stock valued at $1,476,000 after purchasing an additional 945 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.
In related news, COO Zane W. Arrott sold 47,113 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $31.29, for a total value of $1,474,165.77. Following the completion of the sale, the chief operating officer now owns 86,614 shares of the company’s stock, valued at $2,710,152.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James E. Mutrie sold 12,447 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $31.47, for a total transaction of $391,707.09. Following the completion of the sale, the vice president now directly owns 38,005 shares of the company’s stock, valued at approximately $1,196,017.35. The disclosure for this sale can be found here. In the last three months, insiders sold 185,560 shares of company stock valued at $5,870,993. 15.00% of the stock is currently owned by company insiders.
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Shares of RSP Permian, Inc. (NYSE:RSPP) traded up 0.14% during trading on Thursday, reaching $34.78. The company’s stock had a trading volume of 408,000 shares. RSP Permian, Inc. has a 12 month low of $28.76 and a 12 month high of $46.92. The company has a market capitalization of $5.52 billion, a P/E ratio of 64.17 and a beta of 2.17. The company’s 50-day moving average is $31.79 and its 200-day moving average is $35.02.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. RSP Permian’s revenue for the quarter was up 124.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) earnings per share. On average, analysts forecast that RSP Permian, Inc. will post $0.74 EPS for the current fiscal year.
Several equities analysts have recently commented on RSPP shares. Wolfe Research started coverage on RSP Permian in a report on Thursday, June 15th. They set an “outperform” rating and a $45.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $44.00 target price on shares of RSP Permian in a report on Thursday, July 20th. Morgan Stanley lowered their target price on RSP Permian from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, August 8th. Williams Capital started coverage on RSP Permian in a report on Monday, June 12th. They set a “buy” rating and a $47.00 target price for the company. Finally, ValuEngine lowered RSP Permian from a “hold” rating to a “sell” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.37.
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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