Boothbay Fund Management LLC lifted its position in shares of RSP Permian, Inc. (NYSE:RSPP) by 164.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,645 shares of the oil and natural gas company’s stock after buying an additional 12,825 shares during the quarter. Boothbay Fund Management LLC’s holdings in RSP Permian were worth $714,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of RSPP. BNP Paribas Arbitrage SA grew its holdings in RSP Permian by 65.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after purchasing an additional 1,705 shares during the period. Sentry Investment Management LLC purchased a new stake in RSP Permian in the second quarter valued at approximately $210,000. Gluskin Sheff & Assoc Inc. purchased a new stake in RSP Permian in the second quarter valued at approximately $210,000. GSA Capital Partners LLP purchased a new stake in RSP Permian in the second quarter valued at approximately $225,000. Finally, Teton Advisors Inc. purchased a new stake in RSP Permian in the third quarter valued at approximately $256,000. Institutional investors and hedge funds own 86.24% of the company’s stock.
A number of equities research analysts recently issued reports on RSPP shares. Zacks Investment Research downgraded shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Royal Bank Of Canada boosted their target price on shares of RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, November 13th. Northland Securities restated a “buy” rating and issued a $52.00 target price on shares of RSP Permian in a report on Wednesday, November 1st. BidaskClub upgraded shares of RSP Permian from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Finally, Williams Capital lowered their target price on shares of RSP Permian from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.70.
RSP Permian (NYSE:RSPP) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The business had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $201.34 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was up 115.5% compared to the same quarter last year. equities analysts forecast that RSP Permian, Inc. will post 0.79 earnings per share for the current fiscal year.
In related news, VP Erik B. Daugbjerg sold 19,973 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.27, for a total value of $744,393.71. Following the sale, the vice president now directly owns 203,598 shares of the company’s stock, valued at $7,588,097.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $35.86, for a total transaction of $1,506,120.00. Following the completion of the sale, the director now directly owns 8,010,851 shares in the company, valued at $287,269,116.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,973 shares of company stock worth $5,935,594. Corporate insiders own 15.00% of the company’s stock.
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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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