Victory Capital Management Inc. Grows Holdings in RSP Permian, Inc. (RSPP)
Victory Capital Management Inc. raised its stake in RSP Permian, Inc. (NYSE:RSPP) by 13.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,381,385 shares of the oil and natural gas company’s stock after buying an additional 166,783 shares during the quarter. Victory Capital Management Inc. owned 0.87% of RSP Permian worth $47,782,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in shares of 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. acquired a new position in shares of RSP Permian during the 2nd quarter worth $210,000. Sentry Investment Management LLC acquired a new position in shares of RSP Permian during the 2nd quarter worth $210,000. GSA Capital Partners LLP acquired a new position in shares of RSP Permian during the 2nd quarter worth $225,000. Finally, Lucas Capital Management acquired a new position in shares of RSP Permian during the 2nd quarter worth $290,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.
In related news, Director Ted Collins, Jr. sold 21,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $34.78, for a total transaction of $730,380.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP James E. Mutrie sold 12,447 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $31.47, for a total transaction of $391,707.09. Following the sale, the vice president now 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. Insiders have sold a total of 248,560 shares of company stock valued at $8,060,453 over the last ninety days. 15.00% of the stock is owned by insiders.
RSP Permian, Inc. (RSPP) opened at $35.23 on Monday. The company has a market cap of $5,587.67, a PE ratio of 83.88, a PEG ratio of 1.50 and a beta of 2.15. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29.
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 analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) EPS. research analysts anticipate that RSP Permian, Inc. will post 0.78 earnings per share for the current fiscal year.
RSPP has been the topic of several analyst reports. Barclays PLC increased their price target on shares of RSP Permian from $38.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $47.00 target price on shares of RSP Permian in a research note on Tuesday, October 10th. Northland Securities reiterated a “buy” rating and issued a $52.00 target price on shares of RSP Permian in a research note on Tuesday, September 26th. Williams Capital lowered their target price on shares of RSP Permian from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. Finally, Morgan Stanley raised their target price on shares of RSP Permian from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. RSP Permian has a consensus rating of “Buy” and a consensus price target of $46.67.
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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