Millennium Management LLC Decreases Position in RSP Permian Inc (NYSE:RSPP)

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Millennium Management LLC trimmed its position in shares of RSP Permian Inc (NYSE:RSPP) by 75.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,054,966 shares of the oil and natural gas company’s stock after selling 3,211,628 shares during the period. Millennium Management LLC owned approximately 0.66% of RSP Permian worth $46,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RSPP. SG Americas Securities LLC acquired a new stake in RSP Permian in the first quarter valued at $278,000. Swiss National Bank grew its holdings in shares of RSP Permian by 2.3% during the first quarter. Swiss National Bank now owns 207,191 shares of the oil and natural gas company’s stock worth $9,713,000 after purchasing an additional 4,600 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of RSP Permian by 8.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 621,380 shares of the oil and natural gas company’s stock worth $29,131,000 after purchasing an additional 47,460 shares during the last quarter. Aperio Group LLC grew its holdings in shares of RSP Permian by 7.0% during the first quarter. Aperio Group LLC now owns 25,457 shares of the oil and natural gas company’s stock worth $1,193,000 after purchasing an additional 1,662 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of RSP Permian by 4.8% during the first quarter. Envestnet Asset Management Inc. now owns 27,266 shares of the oil and natural gas company’s stock worth $1,278,000 after purchasing an additional 1,253 shares during the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.

Shares of RSP Permian stock traded down $101.64 during trading on Friday, hitting $47.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. RSP Permian Inc has a one year low of $28.76 and a one year high of $51.51. The company has a market cap of $7.63 billion, a PE ratio of 58.33, a price-to-earnings-growth ratio of 0.62 and a beta of 1.61.

Separately, Guggenheim reissued a “buy” rating on shares of RSP Permian in a report on Monday, July 23rd. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $52.20.

RSP Permian Company Profile

RSP Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. It owns interest in contiguous acreage blocks in the core of the Midland Basin primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector, and Glasscock; and in Loving and Winkler counties of the Delaware Basin.

Further Reading: What is a stock split?

Institutional Ownership by Quarter for RSP Permian (NYSE:RSPP)

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