RSP Permian, Inc. (RSPP) Position Boosted by Key Group Holdings Cayman LTD.
Key Group Holdings Cayman LTD. increased its position in shares of RSP Permian, Inc. (NYSE:RSPP) by 721.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 462,500 shares of the oil and natural gas company’s stock after buying an additional 406,200 shares during the period. RSP Permian accounts for approximately 1.4% of Key Group Holdings Cayman LTD.’s investment portfolio, making the stock its 22nd biggest position. Key Group Holdings Cayman LTD. owned approximately 0.29% of RSP Permian worth $14,925,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its position in RSP Permian by 15,355.9% during the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock worth $306,537,000 after acquiring an additional 7,351,042 shares in the last quarter. Third Point LLC lifted its stake in RSP Permian by 92.5% in the second 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 during the last quarter. Vanguard Group Inc. lifted its stake in RSP Permian by 16.4% in the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock valued at $369,096,000 after acquiring an additional 1,256,249 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in RSP Permian by 66.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock valued at $116,142,000 after acquiring an additional 1,118,888 shares during the last quarter. Finally, State Street Corp lifted its stake in RSP Permian by 30.2% in the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock valued at $149,756,000 after acquiring an additional 838,188 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.
Several research analysts have recently weighed in on the stock. Scotiabank set a $43.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research note on Saturday, July 1st. BMO Capital Markets set a $42.00 target price on shares of RSP Permian and gave the company a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of RSP Permian from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Northland Securities set a $52.00 price target on RSP Permian and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Bank of America Corporation started coverage on RSP Permian in a report on Wednesday, July 19th. They set a “buy” rating and a $45.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.29.
In related news, CEO Steven D. Gray bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the transaction, the chief executive officer now directly owns 311,688 shares in the company, valued at approximately $9,347,523.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James E. Mutrie sold 12,447 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $31.47, for a total transaction of $391,707.09. Following the completion of the transaction, the vice president now directly owns 38,005 shares of the company’s stock, valued at approximately $1,196,017.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 248,560 shares of company stock worth $7,898,543. 15.00% of the stock is owned by company insiders.
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Shares of RSP Permian, Inc. (NYSE:RSPP) traded down 0.58% on Monday, hitting $34.39. The company had a trading volume of 902,715 shares. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 63.45 and a beta of 2.17. The company has a 50 day moving average price of $31.13 and a 200 day moving average price of $35.42. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The firm had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. During the same quarter last year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 124.7% on a year-over-year basis. On average, equities analysts forecast that RSP Permian, Inc. will post $0.73 earnings per share for the current fiscal year.
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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