RSP Permian, Inc. (RSPP) Holdings Raised by Friedberg Investment Management
Friedberg Investment Management raised its position in RSP Permian, Inc. (NYSE:RSPP) by 21.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,940 shares of the oil and natural gas company’s stock after acquiring an additional 3,040 shares during the period. Friedberg Investment Management’s holdings in RSP Permian were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RSPP. Comerica Bank boosted its stake in RSP Permian by 8.8% in the first quarter. Comerica Bank now owns 11,117 shares of the oil and natural gas company’s stock valued at $422,000 after acquiring an additional 902 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of RSP Permian by 7.6% during the first quarter. UBS Asset Management Americas Inc. now owns 72,919 shares of the oil and natural gas company’s stock worth $3,021,000 after buying an additional 5,158 shares during the period. Karp Capital Management Corp acquired a new stake in shares of RSP Permian during the first quarter worth $584,000. Prudential Financial Inc. lifted its stake in shares of RSP Permian by 26.2% during the first quarter. Prudential Financial Inc. now owns 18,860 shares of the oil and natural gas company’s stock worth $782,000 after buying an additional 3,920 shares during the period. Finally, American International Group Inc. lifted its stake in shares of RSP Permian by 31.6% during the first quarter. American International Group Inc. now owns 59,546 shares of the oil and natural gas company’s stock worth $2,467,000 after buying an additional 14,296 shares during the period. Institutional investors own 86.57% of the company’s stock.
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 transaction, the chief operating officer now owns 86,614 shares in the company, valued at $2,710,152.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven D. Gray acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price 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 disclosure for this purchase can be found here. Insiders sold 248,560 shares of company stock valued at $8,060,453 in the last ninety days. Corporate insiders own 15.00% of the company’s stock.
RSP Permian, Inc. (NYSE RSPP) traded down 0.308% during mid-day trading on Monday, hitting $33.965. 191,325 shares of the stock traded hands. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 62.666 and a beta of 2.17. The stock has a 50-day moving average of $31.98 and a 200 day moving average of $34.97. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company’s revenue for the quarter was up 124.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. On average, equities analysts expect that RSP Permian, Inc. will post $0.74 EPS for the current year.
Several equities research analysts have recently commented on the stock. Williams Capital assumed coverage on shares of RSP Permian in a research note on Monday, June 12th. They set a “buy” rating and a $47.00 price objective for the company. TheStreet downgraded shares of RSP Permian from a “b-” rating to a “c” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating and set a $55.00 target price on shares of RSP Permian in a research 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, Piper Jaffray Companies cut their price objective on shares of RSP Permian from $49.00 to $37.00 and set an “overweight” rating for the company in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.44.
RSP Permian 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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