RSP Permian, Inc. (RSPP) Shares Sold by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. reduced its holdings in shares of RSP Permian, Inc. (NYSE:RSPP) by 12.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,271 shares of the oil and natural gas company’s stock after selling 2,462 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in RSP Permian were worth $597,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA increased its holdings in RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after purchasing an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. purchased a new position in RSP Permian during the 2nd quarter worth $210,000. Sentry Investment Management LLC purchased a new position in RSP Permian during the 2nd quarter worth $210,000. GSA Capital Partners LLP purchased a new position in RSP Permian during the 2nd quarter worth $225,000. Finally, Lucas Capital Management purchased a new position in RSP Permian during the 2nd quarter worth $290,000. 86.24% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total transaction of $730,380.00. Following the transaction, the director now directly owns 8,094,851 shares in the company, valued at approximately $281,538,917.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $30.71, for a total value of $1,289,820.00. Following the transaction, the director now owns 8,136,851 shares in the company, valued at $249,882,694.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,000 shares of company stock worth $5,629,050. 15.00% of the stock is owned by company insiders.
RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The firm had revenue of $201.70 million for the quarter, compared to the consensus estimate of $201.34 million. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 115.5% on a year-over-year basis. sell-side analysts forecast that RSP Permian, Inc. will post 0.79 EPS for the current fiscal year.
Several research firms have commented on RSPP. Zacks Investment Research upgraded RSP Permian from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 15th. BMO Capital Markets set a $42.00 price objective on RSP Permian and gave the stock a “buy” rating in a report on Tuesday, August 8th. Williams Capital set a $47.00 price objective on RSP Permian and gave the stock a “buy” rating in a report on Tuesday, August 8th. Imperial Capital began coverage on RSP Permian in a report on Tuesday, August 15th. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, Roth Capital set a $44.00 price objective on RSP Permian and gave the stock a “buy” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. RSP Permian currently has an average rating of “Buy” and an average price target of $47.00.
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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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