PHH Investments Ltd. Raises Position in RSP Permian, Inc. (RSPP)
PHH Investments Ltd. boosted its position in shares of RSP Permian, Inc. (NYSE:RSPP) by 97.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,726 shares of the oil and natural gas company’s stock after buying an additional 13,194 shares during the period. PHH Investments Ltd.’s holdings in RSP Permian were worth $862,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in RSPP. Legal & General Group Plc boosted its position in shares of RSP Permian by 35.6% in the second quarter. Legal & General Group Plc now owns 48,410 shares of the oil and natural gas company’s stock worth $1,562,000 after buying an additional 12,713 shares in the last quarter. Denver Investment Advisors LLC boosted its position in shares of RSP Permian by 8.3% in the second quarter. Denver Investment Advisors LLC now owns 12,365 shares of the oil and natural gas company’s stock worth $399,000 after buying an additional 950 shares in the last quarter. LMR Partners LLP purchased a new position in shares of RSP Permian during the second quarter worth $2,553,000. Rhumbline Advisers boosted its position in shares of RSP Permian by 5.4% in the second quarter. Rhumbline Advisers now owns 134,423 shares of the oil and natural gas company’s stock worth $4,338,000 after buying an additional 6,870 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of RSP Permian by 19.5% in the second quarter. Teacher Retirement System of Texas now owns 9,670 shares of the oil and natural gas company’s stock worth $312,000 after buying an additional 1,579 shares in the last quarter. 78.60% of the stock is currently owned by institutional investors.
Shares of RSP Permian, Inc. (NYSE RSPP) opened at 31.70 on Wednesday. The company’s 50 day moving average price is $32.72 and its 200 day moving average price is $37.30. RSP Permian, Inc. has a 52-week low of $29.67 and a 52-week high of $46.92. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 58.49 and a beta of 2.13.
RSP Permian (NYSE:RSPP) last released its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million for the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. RSP Permian’s quarterly revenue was up 124.7% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. On average, analysts predict that RSP Permian, Inc. will post $0.73 EPS for the current year.
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A number of brokerages recently weighed in on RSPP. Jefferies Group LLC reissued a “buy” rating and set a $46.00 price objective on shares of RSP Permian in a report on Wednesday. Zacks Investment Research raised RSP Permian from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Imperial Capital assumed coverage on RSP Permian in a research note on Tuesday. They issued an “outperform” rating and a $42.00 price target on the stock. Roth Capital set a $44.00 price target on RSP Permian and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) raised RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.56.
In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $32.17, for a total transaction of $1,351,140.00. Following the transaction, the director now directly owns 8,220,851 shares in the company, valued at approximately $264,464,776.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Richard A. Kayne sold 17,250,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $38.78, for a total value of $668,955,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,418,000 shares of company stock worth $674,492,280 over the last 90 days. 15.00% of the stock is currently owned by company insiders.
RSP Permian Company 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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