BP Capital Fund Advisors LLC reduced its stake in RSP Permian, Inc. (NYSE:RSPP) by 39.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,041 shares of the oil and natural gas company’s stock after selling 93,622 shares during the period. RSP Permian accounts for about 2.8% of BP Capital Fund Advisors LLC’s holdings, making the stock its 10th largest position. BP Capital Fund Advisors LLC owned approximately 0.09% of RSP Permian worth $6,050,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in RSPP. Teacher Retirement System of Texas boosted its position in RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 331 shares during the last quarter. Quadrature Capital Ltd boosted its position in RSP Permian by 74.8% in the fourth quarter. Quadrature Capital Ltd now owns 24,324 shares of the oil and natural gas company’s stock worth $1,086,000 after buying an additional 10,410 shares during the last quarter. Menta Capital LLC acquired a new position in RSP Permian during the fourth quarter worth approximately $1,665,000. Adams Diversified Equity Fund Inc. boosted its position in RSP Permian by 3.1% in the first quarter. Adams Diversified Equity Fund Inc. now owns 20,000 shares of the oil and natural gas company’s stock worth $829,000 after buying an additional 600 shares in the last quarter. Finally, Fiera Capital Corp acquired a new position in RSP Permian during the fourth quarter worth approximately $29,489,000. Institutional investors own 77.54% of the company’s stock.
RSP Permian, Inc. (NYSE RSPP) traded up 0.32% during midday trading on Friday, reaching $31.82. The company’s stock had a trading volume of 1,403,750 shares. RSP Permian, Inc. has a 52 week low of $29.67 and a 52 week high of $46.92. The firm’s 50-day moving average price is $35.62 and its 200-day moving average price is $39.91. The stock has a market capitalization of $5.05 billion, a PE ratio of 123.81 and a beta of 2.12.
RSP Permian (NYSE:RSPP) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The firm had revenue of $169.93 million for the quarter, compared to analysts’ expectations of $159.81 million. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. On average, analysts anticipate that RSP Permian, Inc. will post $0.96 earnings per share for the current year.
Several analysts have recently issued reports on RSPP shares. Barclays PLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of RSP Permian in a report on Friday. TheStreet downgraded RSP Permian from a “b-” rating to a “c” rating in a research report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $46.00 price objective on shares of RSP Permian in a research report on Thursday. Scotiabank set a $43.00 price objective on RSP Permian and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, BMO Capital Markets set a $38.00 target price on RSP Permian and gave the stock a “buy” rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $47.87.
In related news, VP William Huck sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $38.31, for a total transaction of $153,240.00. Following the transaction, the vice president now owns 329,752 shares in the company, valued at $12,632,799.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Richard A. Kayne sold 17,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total transaction of $668,955,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,412,000 shares of company stock worth $674,719,030. Corporate insiders own 15.00% of the company’s stock.
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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