Quantitative Systematic Strategies LLC Sells 13,260 Shares of RSP Permian, Inc. (RSPP)

Quantitative Systematic Strategies LLC decreased its holdings in shares of RSP Permian, Inc. (NYSE:RSPP) by 23.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,131 shares of the oil and natural gas company’s stock after selling 13,260 shares during the period. Quantitative Systematic Strategies LLC’s holdings in RSP Permian were worth $1,492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RSPP. Comerica Bank boosted its stake 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 buying an additional 902 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of RSP Permian by 7.6% during the first quarter. UBS Asset Management Americas Inc. now owns 72,919 shares of the oil and natural gas company’s stock worth $3,021,000 after buying an additional 5,158 shares during the period. Prudential Financial Inc. boosted its stake in shares of RSP Permian by 26.2% during the first quarter. Prudential Financial Inc. now owns 18,860 shares of the oil and natural gas company’s stock worth $782,000 after buying an additional 3,920 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of RSP Permian by 24.3% during the first quarter. OppenheimerFunds Inc. now owns 13,448 shares of the oil and natural gas company’s stock worth $557,000 after buying an additional 2,627 shares during the period. Finally, Legal & General Group Plc boosted its stake 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 buying an additional 945 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

In other news, COO Zane W. Arrott sold 47,113 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $31.29, for a total value of $1,474,165.77. Following the completion of the sale, the chief operating officer now directly owns 86,614 shares of the company’s stock, valued at approximately $2,710,152.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP James E. Mutrie sold 12,447 shares of the company’s stock in a transaction that occurred on 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 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. Over the last ninety days, insiders sold 248,560 shares of company stock valued at $8,060,453. Company insiders own 15.00% of the company’s stock.

Shares of RSP Permian, Inc. (NYSE:RSPP) traded down 0.21% on Friday, reaching $33.55. 2,402,906 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $32.96 and its 200-day moving average price is $34.56. The company has a market capitalization of $5.32 billion, a P/E ratio of 61.90 and a beta of 2.17. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The business’s revenue for the quarter was up 124.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) EPS. Analysts anticipate that RSP Permian, Inc. will post $0.76 EPS for the current fiscal year.

Several brokerages have recently weighed in on RSPP. Roth Capital set a $44.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Scotiabank set a $43.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research note on Saturday, July 1st. Goldman Sachs Group Inc upgraded shares of RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 target price for the company in a research note on Wednesday, August 9th. Imperial Capital began coverage on shares of RSP Permian in a research note on Tuesday, August 15th. They set an “outperform” rating and a $42.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of RSP Permian from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. RSP Permian currently has a consensus rating of “Buy” and a consensus target price of $46.83.

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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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Institutional Ownership by Quarter for RSP Permian (NYSE:RSPP)

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