California Public Employees Retirement System cut its stake in shares of RSP Permian Inc. (NYSE:RSPP) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 116,900 shares of the company’s stock after selling 3,700 shares during the period. California Public Employees Retirement System owned about 0.12% of RSP Permian worth $4,079,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RSPP. Boothbay Fund Management LLC increased its stake in RSP Permian by 0.4% in the first quarter. Boothbay Fund Management LLC now owns 8,887 shares of the company’s stock worth $258,000 after buying an additional 39 shares in the last quarter. Raymond James Trust N.A. increased its stake in RSP Permian by 0.4% in the second quarter. Raymond James Trust N.A. now owns 9,201 shares of the company’s stock worth $320,000 after buying an additional 41 shares in the last quarter. Texan Capital Management increased its stake in RSP Permian by 2.8% in the second quarter. Texan Capital Management now owns 9,300 shares of the company’s stock worth $324,000 after buying an additional 250 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in RSP Permian by 50,766.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,052 shares of the company’s stock worth $106,000 after buying an additional 3,046 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in RSP Permian by 27.1% in the first quarter. Legal & General Group Plc now owns 15,601 shares of the company’s stock worth $452,000 after buying an additional 3,327 shares in the last quarter. 86.36% of the stock is owned by hedge funds and other institutional investors.

Shares of RSP Permian Inc. (NYSE:RSPP) traded up 3.65% on Wednesday, hitting $38.32. 1,040,698 shares of the stock traded hands. The stock’s 50 day moving average price is $38.40 and its 200 day moving average price is $33.63. RSP Permian Inc. has a 52-week low of $16.74 and a 52-week high of $40.74. The stock’s market cap is $3.89 billion.

RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The company earned $81.50 million during the quarter, compared to analyst estimates of $71.12 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts expect that RSP Permian Inc. will post ($0.18) EPS for the current fiscal year.

A number of analysts have recently issued reports on RSPP shares. Roth Capital reaffirmed a “buy” rating on shares of RSP Permian in a report on Thursday, May 26th. Deutsche Bank AG reaffirmed a “buy” rating on shares of RSP Permian in a report on Thursday, June 2nd. Jefferies Group reaffirmed a “buy” rating and set a $42.00 price objective (up from $38.00) on shares of RSP Permian in a report on Wednesday, June 8th. Wunderlich lifted their price objective on shares of RSP Permian from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Finally, Imperial Capital started coverage on shares of RSP Permian in a report on Wednesday, June 15th. They set an “outperform” rating and a $45.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.09.

In other RSP Permian news, Director Kenneth V. Huseman bought 2,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were acquired at an average price of $37.76 per share, with a total value of $75,520.00. Following the transaction, the director now owns 19,510 shares of the company’s stock, valued at approximately $736,697.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Huck sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $38.76, for a total transaction of $232,560.00. Following the transaction, the vice president now directly owns 387,837 shares in the company, valued at approximately $15,032,562.12. The disclosure for this sale can be found here. Corporate insiders own 23.50% 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.

5 Day Chart for NYSE:RSPP

Want to see what other hedge funds are holding RSPP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RSP Permian Inc. (NYSE:RSPP).

Receive News & Ratings for RSP Permian Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RSP Permian Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.