Clinton Group Inc. purchased a new stake in shares of RSP Permian, Inc. (NYSE:RSPP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,317 shares of the oil and natural gas company’s stock, valued at approximately $365,000.
Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in RSP Permian by 65.7% during the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after acquiring an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new position in RSP Permian during the second quarter worth about $210,000. Two Sigma Securities LLC acquired a new position in RSP Permian during the first quarter worth about $279,000. GSA Capital Partners LLP acquired a new position in RSP Permian during the second quarter worth about $225,000. Finally, Teacher Retirement System of Texas grew its holdings in RSP Permian by 4.3% during 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 acquiring an additional 331 shares during the period. 86.57% of the stock is currently owned by institutional investors.
In other news, VP James E. Mutrie sold 12,447 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $31.47, for a total transaction of $391,707.09. Following the completion of the transaction, the vice president now directly owns 38,005 shares of the company’s stock, valued at $1,196,017.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven D. Gray acquired 10,000 shares of RSP Permian stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $29.99 per share, with a total value of $299,900.00. Following the completion of the transaction, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at $9,347,523.12. The disclosure for this purchase can be found here. Insiders sold 248,560 shares of company stock valued at $8,060,453 over the last 90 days. Corporate insiders own 15.00% of the company’s stock.
Shares of RSP Permian, Inc. (NYSE RSPP) opened at 34.07 on Monday. The firm’s 50-day moving average price is $31.98 and its 200-day moving average price is $34.97. 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 $5.40 billion, a price-to-earnings ratio of 62.86 and a beta of 2.17.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The company had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 124.7% compared to the same quarter last year. On average, equities analysts anticipate that RSP Permian, Inc. will post $0.74 earnings per share for the current year.
A number of research firms recently issued reports on RSPP. Williams Capital began coverage on RSP Permian in a report on Monday, June 12th. They set a “buy” rating and a $47.00 target price on the stock. TheStreet lowered RSP Permian from a “b-” rating to a “c” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of RSP Permian in a report on Friday, June 16th. ValuEngine lowered RSP Permian from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Piper Jaffray Companies lowered their target price on RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.44.
RSP Permian 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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