Van ECK Associates Corp Boosts Stake in RSP Permian, Inc. (RSPP)
Van ECK Associates Corp increased its holdings in RSP Permian, Inc. (NYSE:RSPP) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,752,195 shares of the oil and natural gas company’s stock after buying an additional 46,694 shares during the period. Van ECK Associates Corp owned about 1.10% of RSP Permian worth $60,608,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of RSPP. Nisa Investment Advisors LLC boosted its stake in RSP Permian by 24.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 19,280 shares of the oil and natural gas company’s stock valued at $668,000 after purchasing an additional 3,750 shares during the period. Aperio Group LLC raised its position in shares of RSP Permian by 27.1% during the 2nd quarter. Aperio Group LLC now owns 17,908 shares of the oil and natural gas company’s stock worth $578,000 after buying an additional 3,814 shares in the last quarter. Goodwin Daniel L bought a new stake in shares of RSP Permian during the 2nd quarter worth about $323,000. Public Employees Retirement Association of Colorado bought a new stake in shares of RSP Permian during the 2nd quarter worth about $662,000. Finally, NGAM Advisors L.P. bought a new stake in shares of RSP Permian during the 2nd quarter worth about $863,000. 83.77% of the stock is owned by institutional investors and hedge funds.
RSP Permian, Inc. (NYSE:RSPP) traded up $0.48 during trading on Friday, hitting $36.48. 1,754,300 shares of the stock traded hands, compared to its average volume of 2,057,340. The stock has a market capitalization of $5,790.00, a P/E ratio of 59.80, a P/E/G ratio of 1.79 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $201.70 million for the quarter, compared to the consensus estimate of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The firm’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. research analysts predict that RSP Permian, Inc. will post 0.79 earnings per share for the current fiscal year.
A number of analysts recently commented on RSPP shares. Williams Capital set a $47.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of RSP Permian from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Morgan Stanley dropped their target price on shares of RSP Permian from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. BMO Capital Markets set a $42.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 target price on the stock in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian has an average rating of “Buy” and a consensus target price of $47.00.
In other news, CEO Steven D. Gray bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $29.99 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $35.61, for a total transaction of $1,495,620.00. Following the transaction, the director now directly owns 8,052,851 shares in the company, valued at $286,762,024.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,447 shares of company stock worth $6,020,757. 15.00% of the stock is currently owned by insiders.
About RSP Permian
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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