RSP Permian, Inc. (RSPP) Shares Sold by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. lessened its stake in shares of RSP Permian, Inc. (NYSE:RSPP) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,733 shares of the oil and natural gas company’s stock after selling 2,939 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in RSP Permian were worth $637,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in RSP Permian by 65.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after acquiring an additional 1,705 shares in the last quarter. Gluskin Sheff & Assoc Inc. bought a new position in RSP Permian in the 2nd quarter valued at about $210,000. GSA Capital Partners LLP bought a new position in RSP Permian in the 2nd quarter valued at about $225,000. Lucas Capital Management bought a new position in RSP Permian in the 2nd quarter valued at about $290,000. Finally, Teacher Retirement System of Texas lifted its position in RSP Permian by 19.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,670 shares of the oil and natural gas company’s stock valued at $312,000 after acquiring an additional 1,579 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on the stock. TheStreet cut shares of RSP Permian from a “b-” rating to a “c” rating in a research report on Wednesday, July 5th. ValuEngine cut shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Barclays PLC raised their price target on shares of 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 dropped their price target on shares of RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Finally, Bank of America Corporation assumed coverage on shares of RSP Permian in a research report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. RSP Permian currently has a consensus rating of “Buy” and an average target price of $46.58.
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In other RSP Permian news, CEO Steven D. Gray bought 10,000 shares of RSP Permian stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $29.99 per share, with a total value of $299,900.00. Following the completion of the acquisition, the chief executive officer now owns 311,688 shares in the company, valued at $9,347,523.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James E. Mutrie sold 12,447 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $31.47, for a total transaction of $391,707.09. Following the sale, the vice president now directly owns 38,005 shares of the company’s stock, valued at $1,196,017.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 248,560 shares of company stock worth $8,060,453. 15.00% of the stock is owned by insiders.
Shares of RSP Permian, Inc. (NYSE RSPP) opened at 34.41 on Wednesday. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 63.49 and a beta of 2.17. RSP Permian, Inc. has a 52 week low of $28.76 and a 52 week high of $46.92. The stock’s 50 day moving average is $33.33 and its 200 day moving average is $34.11.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million for the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. On average, equities analysts forecast that RSP Permian, Inc. will post $0.74 EPS for the current year.
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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