RSP Permian, Inc. (RSPP) Director Sells $730,380.00 in Stock
RSP Permian, Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 21,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $34.78, for a total value of $730,380.00. Following the completion of the sale, the director now directly owns 8,094,851 shares in the company, valued at approximately $281,538,917.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
RSP Permian, Inc. (NYSE RSPP) opened at 34.07 on Monday. The stock has a market capitalization of $5.40 billion, a P/E ratio of 62.86 and a beta of 2.17. The stock has a 50 day moving average price of $31.98 and a 200-day moving average price of $34.97. RSP Permian, Inc. has a 12-month low of $28.76 and a 12-month high of $46.92.
RSP Permian (NYSE:RSPP) last released 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 analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $183.10 million during 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 business’s revenue for the quarter was up 124.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. Equities research analysts expect that RSP Permian, Inc. will post $0.74 EPS for the current year.
RSPP has been the topic of several research reports. Williams Capital initiated coverage on RSP Permian in a report on Monday, June 12th. They issued a “buy” rating and a $47.00 target price on the stock. 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 price objective on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $55.00 price objective on shares of RSP Permian in a research report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $46.00 price objective on shares of RSP Permian in a research report on Thursday, July 6th. Finally, Scotiabank set a $43.00 price objective on RSP Permian and gave the company a “buy” rating in a research report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $47.44.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in RSP Permian by 11.8% during the second quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock valued at $321,513,000 after purchasing an additional 1,054,281 shares during the last quarter. BlackRock Inc. boosted its position in RSP Permian by 15,355.9% during the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock valued at $306,537,000 after purchasing an additional 7,351,042 shares during the last quarter. Boston Partners boosted its position in RSP Permian by 10.3% during the second quarter. Boston Partners now owns 7,291,558 shares of the oil and natural gas company’s stock valued at $235,299,000 after purchasing an additional 681,747 shares during the last quarter. FMR LLC boosted its position in RSP Permian by 5.9% during the second quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after purchasing an additional 300,249 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in RSP Permian by 38.3% during the second quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after purchasing an additional 1,073,137 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.
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.
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