Magnetar Financial LLC Has $535,000 Holdings in RSP Permian, Inc. (RSPP)
Magnetar Financial LLC raised its stake in RSP Permian, Inc. (NYSE:RSPP) by 143.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,473 shares of the oil and natural gas company’s stock after purchasing an additional 9,125 shares during the quarter. Magnetar Financial LLC’s holdings in RSP Permian were worth $535,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted 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 valued at $139,000 after buying an additional 1,705 shares in the last quarter. Gluskin Sheff & Assoc Inc. purchased a new stake in shares of RSP Permian in the second quarter valued at approximately $210,000. Sentry Investment Management LLC purchased a new stake in shares of RSP Permian in the second quarter valued at approximately $210,000. GSA Capital Partners LLP purchased a new stake in shares of RSP Permian in the second quarter valued at approximately $225,000. Finally, Teton Advisors Inc. purchased a new stake in shares of RSP Permian in the third quarter valued at approximately $256,000. Institutional investors own 86.24% of the company’s stock.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded RSP Permian from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Piper Jaffray Companies decreased their price target on RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Imperial Capital assumed coverage on RSP Permian in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $42.00 price target on the stock. BidaskClub downgraded RSP Permian from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, Northland Securities set a $52.00 price target on RSP Permian and gave the company a “buy” rating in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.87.
RSP Permian, Inc. (NYSE RSPP) traded up $0.09 during midday trading on Wednesday, hitting $37.09. The stock had a trading volume of 1,292,100 shares, compared to its average volume of 2,023,676. RSP Permian, Inc. has a 12 month low of $28.76 and a 12 month high of $46.92. The firm has a market capitalization of $5,868.17, a PE ratio of 60.66, a price-to-earnings-growth ratio of 1.78 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The company had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $201.34 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was up 115.5% compared to the same quarter last year. analysts forecast that RSP Permian, Inc. will post 0.79 EPS for the current fiscal year.
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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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