Ted Collins, Jr. Sells 21,000 Shares of RSP Permian, Inc. (RSPP) Stock
RSP Permian, Inc. (NYSE:RSPP) Director Ted Collins, Jr. sold 21,000 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total transaction of $730,380.00. Following the transaction, the director now owns 8,094,851 shares in the company, valued at approximately $281,538,917.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of RSP Permian, Inc. (RSPP) traded down 1.62% during trading on Friday, hitting $34.07. 960,179 shares of the stock were exchanged. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92. The firm’s 50-day moving average is $31.88 and its 200 day moving average is $35.01. The company has a market cap of $5.40 billion, a P/E ratio of 62.86 and a beta of 2.17.
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 company had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. RSP Permian’s quarterly revenue was up 124.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) earnings per share. Equities analysts forecast that RSP Permian, Inc. will post $0.74 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its position in shares of RSP Permian by 65.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after acquiring an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. bought a new stake in shares of RSP Permian in the second quarter valued at about $210,000. Sentry Investment Management LLC bought a new stake in shares of RSP Permian in the second quarter valued at about $210,000. GSA Capital Partners LLP bought a new stake in shares of RSP Permian in the second quarter valued at about $225,000. Finally, Two Sigma Securities LLC bought a new stake in shares of RSP Permian in the first quarter valued at about $279,000. 86.57% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $44.00 price objective on shares of RSP Permian in a report on Thursday, July 20th. Zacks Investment Research downgraded shares of RSP Permian from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Bank of America Corporation assumed coverage on shares of RSP Permian in a report on Wednesday, July 19th. They set a “buy” rating and a $45.00 price objective for the company. Northland Securities set a $52.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a report on Monday, August 21st. Finally, TheStreet downgraded shares of RSP Permian from a “b-” rating to a “c” rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued 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 price target of $47.44.
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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