RSP Permian (RSPP) Shares Down 6.9%

RSP Permian Inc (NYSE:RSPP) traded down 6.9% during mid-day trading on Thursday . The company traded as low as $33.42 and last traded at $33.44. 3,683,356 shares traded hands during mid-day trading, an increase of 56% from the average session volume of 2,357,969 shares. The stock had previously closed at $35.90.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, January 23rd. Credit Suisse Group set a $51.00 target price on shares of RSP Permian and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. BMO Capital Markets reiterated a “buy” rating and set a $51.00 price objective on shares of RSP Permian in a research note on Thursday, January 11th. Stifel Nicolaus set a $48.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, Jefferies Group set a $50.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $47.93.

The stock has a market cap of $5,300.00, a P/E ratio of 55.73, a P/E/G ratio of 0.54 and a beta of 1.97. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.35.

In other RSP Permian news, VP Erik B. Daugbjerg sold 19,973 shares of the firm’s stock in a transaction that occurred 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 owns 203,598 shares in the company, valued at $7,588,097.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were 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 approximately $286,762,024.11. The disclosure for this sale can be found here. Insiders sold 233,473 shares of company stock worth $9,073,416 in the last 90 days. 15.00% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Boston Partners boosted its holdings in shares of RSP Permian by 20.1% in the fourth quarter. Boston Partners now owns 8,836,699 shares of the oil and natural gas company’s stock valued at $359,476,000 after acquiring an additional 1,475,996 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of RSP Permian by 208.1% in the third quarter. Alyeska Investment Group L.P. now owns 2,015,071 shares of the oil and natural gas company’s stock valued at $69,701,000 after acquiring an additional 1,361,049 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of RSP Permian by 163.2% in the third quarter. JPMorgan Chase & Co. now owns 1,322,262 shares of the oil and natural gas company’s stock valued at $45,632,000 after acquiring an additional 819,846 shares in the last quarter. Third Point LLC boosted its holdings in shares of RSP Permian by 19.5% in the third quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock valued at $159,114,000 after acquiring an additional 750,000 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of RSP Permian by 21.1% in the third quarter. Eagle Asset Management Inc. now owns 3,836,027 shares of the oil and natural gas company’s stock valued at $133,877,000 after acquiring an additional 669,488 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.

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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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