RSP Permian, Inc. (RSPP) Position Lowered by Discovery Capital Management LLC CT
Discovery Capital Management LLC CT trimmed its stake in RSP Permian, Inc. (NYSE:RSPP) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,951,773 shares of the oil and natural gas company’s stock after selling 23,600 shares during the period. RSP Permian makes up 1.5% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 25th largest holding. Discovery Capital Management LLC CT owned about 1.23% of RSP Permian worth $62,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its position in RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after purchasing an additional 1,705 shares during the last quarter. Gluskin Sheff & Assoc Inc. purchased a new position in RSP Permian during the 2nd quarter worth $210,000. GSA Capital Partners LLP purchased a new position in RSP Permian during the 2nd quarter worth $225,000. Two Sigma Securities LLC purchased a new position in RSP Permian during the 1st quarter worth $279,000. Finally, Lucas Capital Management purchased a new position in RSP Permian during the 2nd quarter worth $290,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RSP Permian, Inc. (NYSE:RSPP) traded up 0.23% during mid-day trading on Friday, hitting $34.59. 2,130,929 shares of the company traded hands. RSP Permian, Inc. has a 52-week low of $28.76 and a 52-week high of $46.92. The firm has a 50-day moving average price of $31.13 and a 200 day moving average price of $35.42. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 63.82 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last announced its 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. The firm had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. RSP Permian’s revenue was up 124.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. Equities research analysts anticipate that RSP Permian, Inc. will post $0.73 EPS for the current fiscal year.
In related news, CEO Steven D. Gray bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the transaction, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $30.71, for a total transaction of $1,289,820.00. Following the completion of the transaction, the director now owns 8,136,851 shares of the company’s stock, valued at approximately $249,882,694.21. The disclosure for this sale can be found here. Insiders sold a total of 248,560 shares of company stock valued at $7,898,543 in the last quarter. 15.00% of the stock is currently owned by insiders.
Several research analysts have issued reports on RSPP shares. Wolfe Research started coverage on shares of RSP Permian in a research report on Thursday, June 15th. They set an “outperform” rating and a $45.00 price objective on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $44.00 price objective on shares of RSP Permian in a research report on Thursday, July 20th. Morgan Stanley lowered their price objective on shares of RSP Permian from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Williams Capital started coverage on shares of RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, ValuEngine downgraded shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $47.29.
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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