RSP Permian, Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total value of $730,380.00. Following the completion of the sale, the director now directly owns 8,094,851 shares in the company, valued at $281,538,917.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm’s quarterly revenue was up 124.7% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share.
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Several brokerages have weighed in on RSPP. TheStreet lowered RSP Permian from a “b-” rating to a “c” rating in a research report on Wednesday, July 5th. ValuEngine lowered RSP Permian from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Barclays PLC boosted their target price on RSP Permian from $38.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies lowered their price target on RSP Permian from $49.00 to $37.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Finally, Bank of America Corporation started coverage on RSP Permian in a report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.16.
Several hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its holdings in shares of 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 purchasing an additional 331 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of RSP Permian by 0.9% during the second quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock worth $1,905,000 after purchasing an additional 498 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of RSP Permian by 2.5% during the first quarter. Envestnet Asset Management Inc. now owns 27,795 shares of the oil and natural gas company’s stock worth $1,151,000 after purchasing an additional 688 shares during the period. Comerica Bank boosted its holdings in shares of RSP Permian by 8.8% during the first quarter. Comerica Bank now owns 11,117 shares of the oil and natural gas company’s stock worth $422,000 after purchasing an additional 902 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of RSP Permian by 2.7% during the first quarter. Legal & General Group Plc now owns 35,697 shares of the oil and natural gas company’s stock worth $1,476,000 after purchasing an additional 945 shares during the period. Institutional investors and hedge funds own 86.57% 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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