JPMorgan Chase & Co. Acquires 819,846 Shares of RSP Permian, Inc. (RSPP)
JPMorgan Chase & Co. boosted its holdings in shares of RSP Permian, Inc. (NYSE:RSPP) by 163.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,322,262 shares of the oil and natural gas company’s stock after purchasing an additional 819,846 shares during the period. JPMorgan Chase & Co. owned approximately 0.83% of RSP Permian worth $45,632,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of RSP Permian by 11.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock valued at $321,513,000 after acquiring an additional 1,054,281 shares in the last quarter. Boston Partners lifted its position in shares of RSP Permian by 0.9% in the 3rd quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock valued at $254,606,000 after acquiring an additional 69,145 shares in the last quarter. FMR LLC lifted its position in shares of RSP Permian by 5.9% in the 2nd quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after acquiring an additional 300,249 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of RSP Permian by 38.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after acquiring an additional 1,073,137 shares in the last quarter. Finally, Third Point LLC lifted its position in shares of RSP Permian by 92.5% in the 2nd quarter. Third Point LLC now owns 3,850,000 shares of the oil and natural gas company’s stock valued at $124,240,000 after acquiring an additional 1,850,000 shares in the last quarter. 86.24% of the stock is owned by institutional investors and hedge funds.
Shares of RSP Permian, Inc. (NYSE RSPP) traded up $0.18 on Friday, hitting $36.63. 1,270,000 shares of the stock traded hands, compared to its average volume of 1,647,883. RSP Permian, Inc. has a 52 week low of $28.76 and a 52 week high of $46.92. The firm has a market cap of $5,809.48, a price-to-earnings ratio of 60.05, a price-to-earnings-growth ratio of 1.77 and a beta of 2.15. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.35.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. RSP Permian’s quarterly revenue was up 115.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) EPS. research analysts anticipate that RSP Permian, Inc. will post 0.79 EPS for the current year.
In related news, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $34.74, for a total transaction of $1,459,080.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Erik B. Daugbjerg sold 19,973 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $37.27, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,973 shares of company stock valued at $5,935,594. 15.00% of the stock is owned by insiders.
Several brokerages recently commented on RSPP. Imperial Capital began coverage on shares of RSP Permian in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $42.00 price target for the company. Zacks Investment Research upgraded shares of RSP Permian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Jefferies Group reiterated a “buy” rating and issued a $46.00 price objective on shares of RSP Permian in a research note on Wednesday, August 16th. Northland Securities reiterated a “buy” rating and issued a $52.00 price objective on shares of RSP Permian in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies dropped their price objective on shares of RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. RSP Permian has a consensus rating of “Buy” and an average target price of $46.70.
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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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