Mitchell Group Inc. acquired a new stake in shares of RSP Permian, Inc. (NYSE:RSPP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 399,670 shares of the oil and natural gas company’s stock, valued at approximately $13,825,000. RSP Permian comprises 2.2% of Mitchell Group Inc.’s holdings, making the stock its 24th biggest holding. Mitchell Group Inc. owned about 0.25% of RSP Permian at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in RSPP. Legal & General Group Plc raised its stake in 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 valued at $1,476,000 after buying an additional 945 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of RSP Permian by 24.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 19,280 shares of the oil and natural gas company’s stock worth $668,000 after purchasing an additional 3,750 shares in the last quarter. Aperio Group LLC increased its holdings in shares of RSP Permian by 27.1% in the 2nd quarter. Aperio Group LLC now owns 17,908 shares of the oil and natural gas company’s stock worth $578,000 after purchasing an additional 3,814 shares in the last quarter. Quantitative Systematic Strategies LLC increased its holdings in shares of RSP Permian by 25.6% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 56,391 shares of the oil and natural gas company’s stock worth $1,786,000 after purchasing an additional 11,484 shares in the last quarter. Finally, Goodwin Daniel L bought a new stake in shares of RSP Permian in the 2nd quarter worth $323,000. Institutional investors and hedge funds own 83.77% of the company’s stock.
Several analysts recently commented on RSPP shares. Roth Capital set a $44.00 price objective on RSP Permian and gave the stock a “buy” rating in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) raised RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 price objective for the company in a report on Wednesday, August 9th. Imperial Capital began coverage on RSP Permian in a report on Tuesday, August 15th. They issued an “outperform” rating and a $42.00 price objective for the company. Royal Bank Of Canada lifted their target price on RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, November 13th. Finally, BMO Capital Markets set a $46.00 target price on RSP Permian and gave the company a “buy” rating in a research report on Tuesday, November 14th. One investment 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. The company presently has a consensus rating of “Buy” and a consensus target price of $47.00.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. RSP Permian had a return on equity of 2.04% and a net margin of 10.58%. The company had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $201.34 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. RSP Permian’s revenue was up 115.5% compared to the same quarter last year. sell-side analysts anticipate that RSP Permian, Inc. will post 0.78 EPS for the current fiscal year.
In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $35.61, for a total transaction of $1,495,620.00. Following the completion of the sale, the director now owns 8,052,851 shares in the company, valued at $286,762,024.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP James E. Mutrie sold 12,447 shares of the company’s 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 sale, the vice president now owns 38,005 shares of the company’s stock, valued at approximately $1,196,017.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,447 shares of company stock valued at $6,020,757. 15.00% of the stock is owned by company insiders.
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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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