UBS Asset Management Americas Inc. grew its holdings in shares of RSP Permian, Inc. (NYSE:RSPP) by 54.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,976 shares of the oil and natural gas company’s stock after buying an additional 40,057 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of RSP Permian worth $3,646,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank grew its stake in RSP Permian by 8.8% in 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. Karp Capital Management Corp purchased a new stake in shares of RSP Permian in the first quarter worth $584,000. Prudential Financial Inc. grew its stake in shares of RSP Permian by 26.2% in the first quarter. Prudential Financial Inc. now owns 18,860 shares of the oil and natural gas company’s stock worth $782,000 after acquiring an additional 3,920 shares during the last quarter. American International Group Inc. grew its stake in shares of RSP Permian by 31.6% in the first quarter. American International Group Inc. now owns 59,546 shares of the oil and natural gas company’s stock worth $2,467,000 after acquiring an additional 14,296 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of RSP Permian by 22.0% in the first quarter. Asset Management One Co. Ltd. now owns 62,449 shares of the oil and natural gas company’s stock worth $2,552,000 after acquiring an additional 11,276 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
RSPP has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 target price on shares of RSP Permian in a research note on Thursday, July 20th. Zacks Investment Research downgraded RSP Permian from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. 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 target price on the stock. Northland Securities set a $52.00 target price on RSP Permian and gave the company a “buy” rating in a report on Monday, August 21st. Finally, ValuEngine downgraded RSP Permian from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $47.48.
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RSP Permian, Inc. (RSPP) opened at 34.52 on Wednesday. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 63.69 and a beta of 2.17. RSP Permian, Inc. has a one year low of $28.76 and a one year high of $46.92. The firm’s 50 day moving average price is $32.17 and its 200 day moving average price is $34.85.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The business had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue for the quarter was up 124.7% compared to the same quarter last year. Equities analysts forecast that RSP Permian, Inc. will post $0.74 earnings per share for the current year.
In related news, CEO Steven D. Gray acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ted Collins, Jr. sold 21,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $34.78, for a total transaction of $730,380.00. Following the completion of the transaction, the director now owns 8,094,851 shares of the company’s stock, valued at $281,538,917.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 248,560 shares of company stock valued at $8,060,453. 15.00% of the stock is owned by insiders.
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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