RSP Permian Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $34.04, for a total transaction of $1,429,680.00. Following the completion of the transaction, the director now owns 8,590,088 shares of the company’s stock, valued at approximately $292,406,595.52. The sale was disclosed in a filing with the SEC, which is available at this link.
Several large investors recently modified their holdings of the stock. Russell Frank Co boosted its stake in shares of RSP Permian by 180.5% in the fourth quarter. Russell Frank Co now owns 149,937 shares of the company’s stock worth $3,655,000 after buying an additional 96,474 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of RSP Permian by 12.5% in the fourth quarter. California State Teachers Retirement System now owns 121,653 shares of the company’s stock worth $2,967,000 after buying an additional 13,507 shares in the last quarter. Sei Investments Co. boosted its stake in shares of RSP Permian by 1.7% in the fourth quarter. Sei Investments Co. now owns 116,881 shares of the company’s stock worth $2,851,000 after buying an additional 1,980 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of RSP Permian by 18.5% in the fourth quarter. Rhumbline Advisers now owns 88,362 shares of the company’s stock worth $2,155,000 after buying an additional 13,780 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of RSP Permian by 24.7% in the fourth quarter. Swiss National Bank now owns 86,891 shares of the company’s stock worth $2,119,000 after buying an additional 17,191 shares in the last quarter.
RSPP has been the subject of several research analyst reports. Goldman Sachs Group Inc. restated a “buy” rating and issued a $33.00 target price (down previously from $34.00) on shares of RSP Permian in a report on Tuesday, March 29th. Canaccord Genuity upped their target price on shares of RSP Permian from $29.00 to $33.00 in a report on Tuesday, April 12th. Deutsche Bank AG restated a “buy” rating and issued a $34.00 target price on shares of RSP Permian in a report on Thursday, April 14th. Clarkson Capital cut shares of RSP Permian from a “buy” rating to a “neutral” rating in a report on Friday, April 22nd. Finally, Raymond James Financial Inc. upgraded shares of RSP Permian from an “outperform” rating to a “strong-buy” rating and set a $45.00 target price for the company in a report on Wednesday, May 4th. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. RSP Permian has an average rating of “Buy” and a consensus price target of $34.82.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, May 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.04. During the same quarter in the prior year, the business earned $0.13 earnings per share. The firm had revenue of $55.80 million for the quarter. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that RSP Permian Inc. will post ($0.17) earnings per share for the current year.
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
