RSP Permian Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $35.91, for a total transaction of $754,110.00. Following the completion of the sale, the director now owns 8,506,088 shares in the company, valued at $305,453,620.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
RSP Permian Inc. (NYSE:RSPP) traded up 8.86% during mid-day trading on Wednesday, hitting $37.37. 2,572,982 shares of the stock were exchanged. The firm’s market cap is $3.80 billion. RSP Permian Inc. has a 52-week low of $16.74 and a 52-week high of $40.74. The company has a 50 day moving average price of $38.33 and a 200 day moving average price of $34.01.
RSP Permian (NYSE:RSPP) last posted its earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. On average, analysts anticipate that RSP Permian Inc. will post ($0.19) EPS for the current year.
A number of research firms have recently weighed in on RSPP. Jefferies Group restated a “buy” rating and issued a $42.00 target price (up from $38.00) on shares of RSP Permian in a report on Wednesday, June 8th. Nomura reiterated a “buy” rating and set a $17.00 price target on shares of RSP Permian in a report on Monday. Deutsche Bank AG reiterated a “buy” rating on shares of RSP Permian in a report on Thursday, June 2nd. Wunderlich upped their price target on shares of RSP Permian from $34.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Finally, KeyCorp upped their price target on shares of RSP Permian from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Seven equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $36.66.
A number of large investors have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. boosted its stake in RSP Permian by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,723,550 shares of the company’s stock worth $50,052,000 after buying an additional 23,982 shares during the last quarter. BlackRock Inc. boosted its stake in RSP Permian by 15.0% in the first quarter. BlackRock Inc. now owns 27,721 shares of the company’s stock worth $806,000 after buying an additional 3,608 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in RSP Permian during the first quarter worth about $1,942,000. Renaissance Technologies LLC boosted its stake in RSP Permian by 33.9% in the first quarter. Renaissance Technologies LLC now owns 441,200 shares of the company’s stock worth $12,812,000 after buying an additional 111,800 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in RSP Permian by 167.1% in the second quarter. Moody Aldrich Partners LLC now owns 50,170 shares of the company’s stock worth $1,750,000 after buying an additional 31,385 shares during the last quarter. Institutional investors own 86.36% of the company’s stock.
About RSP Permian
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
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