American Century Companies Inc. lessened its position in RSP Permian, Inc. (NYSE:RSPP) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,908 shares of the oil and natural gas company’s stock after selling 8,728 shares during the quarter. American Century Companies Inc. owned about 0.09% of RSP Permian worth $4,805,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSPP. Vanguard Group Inc. lifted its position in RSP Permian by 16.4% during the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock worth $369,096,000 after buying an additional 1,256,249 shares in the last quarter. BlackRock Inc. lifted its position in RSP Permian by 15,355.9% during the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock worth $306,537,000 after buying an additional 7,351,042 shares in the last quarter. Boston Partners lifted its position in RSP Permian by 10.3% during the second quarter. Boston Partners now owns 7,291,558 shares of the oil and natural gas company’s stock worth $235,299,000 after buying an additional 681,747 shares in the last quarter. State Street Corp lifted its position in RSP Permian by 30.2% during the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock worth $149,756,000 after buying an additional 838,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in RSP Permian by 66.4% during the first quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock worth $116,142,000 after buying an additional 1,118,888 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.
A number of equities analysts recently commented on RSPP shares. Barclays PLC reiterated an “overweight” rating and set a $46.00 price objective (up previously from $44.00) on shares of RSP Permian in a research report on Wednesday, May 17th. TheStreet upgraded RSP Permian from a “c” rating to a “b” rating in a research report on Monday, May 22nd. 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 objective on the stock. Williams Capital started coverage on RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Wolfe Research started coverage on RSP Permian in a research report on Thursday, June 15th. They set an “outperform” rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. RSP Permian presently has a consensus rating of “Buy” and a consensus price target of $47.67.
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In related news, VP James E. Mutrie sold 12,447 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $31.47, for a total value of $391,707.09. Following the completion of the sale, the vice president now directly owns 38,005 shares in the company, valued at approximately $1,196,017.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven D. Gray purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price 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 approximately $9,347,523.12. The disclosure for this purchase can be found here. Insiders sold a total of 248,560 shares of company stock worth $7,898,543 over the last ninety days. Corporate insiders own 15.00% of the company’s stock.
Shares of RSP Permian, Inc. (NYSE:RSPP) opened at 29.37 on Monday. The firm has a market capitalization of $4.66 billion, a PE ratio of 54.19 and a beta of 2.15. The stock has a 50 day moving average price of $31.78 and a 200-day moving average price of $35.98. RSP Permian, Inc. has a 52 week low of $28.76 and a 52 week high of $46.92.
RSP Permian (NYSE:RSPP) last issued its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $183.10 million for the quarter, compared to analyst estimates of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The business’s quarterly revenue was up 124.7% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. Equities analysts anticipate that RSP Permian, Inc. will post $0.73 earnings per share for the current year.
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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