BP Capital Fund Advisors LLC lowered 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 investment portfolio, making the stock its 10th largest position. BP Capital Fund Advisors LLC owned approximately 0.09% of RSP Permian worth $6,050,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in RSPP. Vanguard Group Inc. increased its position in RSP Permian by 16.4% in the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock valued at $369,096,000 after buying an additional 1,256,249 shares during the last quarter. BlackRock Inc. increased its position in RSP Permian by 15,355.9% in the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock valued at $306,537,000 after buying an additional 7,351,042 shares during the last quarter. FMR LLC increased its position in RSP Permian by 169.9% in the fourth quarter. FMR LLC now owns 5,133,408 shares of the oil and natural gas company’s stock valued at $229,053,000 after buying an additional 3,231,200 shares during the last quarter. State Street Corp increased its position in RSP Permian by 30.2% in the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock valued at $149,756,000 after buying an additional 838,188 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in RSP Permian by 49.9% in the fourth quarter. Teachers Advisors LLC now owns 3,291,626 shares of the oil and natural gas company’s stock valued at $146,872,000 after buying an additional 1,095,570 shares during the last quarter. 77.54% of the stock is owned by institutional investors.
Shares of RSP Permian, Inc. (NYSE RSPP) traded up 0.43% during mid-day trading on Monday, reaching $30.62. The company had a trading volume of 1,993,758 shares. The company’s 50-day moving average price is $37.54 and its 200-day moving average price is $40.67. The company has a market capitalization of $4.86 billion, a PE ratio of 119.14 and a beta of 2.11. RSP Permian, Inc. has a 52-week low of $30.04 and a 52-week high of $46.92.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. The firm had revenue of $169.93 million for the quarter, compared to analysts’ expectations of $159.81 million. On average, analysts forecast that RSP Permian, Inc. will post $0.98 earnings per share for the current fiscal year.
Several equities analysts have weighed in on RSPP shares. Scotiabank set a $54.00 price target on RSP Permian and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Credit Suisse Group started coverage on RSP Permian in a research report on Thursday, June 1st. They set an “outperform” rating and a $59.00 price target for the company. Zacks Investment Research downgraded RSP Permian from a “buy” rating to a “hold” rating in a research report on Saturday, April 8th. BMO Capital Markets reissued a “buy” rating and set a $50.00 price target on shares of RSP Permian in a research report on Wednesday, April 12th. Finally, Deutsche Bank AG dropped their price target on RSP Permian to $52.00 and set a “buy” rating for the company in a research report on Tuesday, March 7th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $48.76.
In other news, CEO Steven D. Gray purchased 15,000 shares of RSP Permian stock in a transaction dated Thursday, June 1st. The shares were bought at an average cost of $36.19 per share, with a total value of $542,850.00. Following the completion of the transaction, the chief executive officer now directly owns 301,688 shares in the company, valued at approximately $10,918,088.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $34.49, for a total transaction of $1,448,580.00. Following the transaction, the director now directly owns 8,270,351 shares in the company, valued at $285,244,405.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,397,000 shares of company stock worth $674,652,100. Insiders own 23.50% of the company’s stock.
About RSP Permian
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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