Gluskin Sheff & Assoc Inc. lifted its stake in RSP Permian, Inc. (NYSE:RSPP) by 950.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,278 shares of the oil and natural gas company’s stock after buying an additional 61,778 shares during the quarter. Gluskin Sheff & Assoc Inc.’s holdings in RSP Permian were worth $2,362,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in 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 worth $139,000 after purchasing an additional 1,705 shares during the last quarter. Sentry Investment Management LLC bought a new stake in RSP Permian in the second quarter worth $210,000. GSA Capital Partners LLP bought a new stake in RSP Permian in the second quarter worth $225,000. Teton Advisors Inc. bought a new stake in RSP Permian in the third quarter worth $256,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in RSP Permian in the first quarter worth $342,000. 86.84% of the stock is currently owned by hedge funds and other institutional investors.
RSP Permian, Inc. (RSPP) traded up $0.79 during midday trading on Monday, hitting $36.02. 1,169,433 shares of the stock were exchanged, compared to its average volume of 1,793,376. RSP Permian, Inc. has a 12-month low of $28.76 and a 12-month high of $46.92. The company has a market capitalization of $5,587.67, a PE ratio of 83.88, a PEG ratio of 1.50 and a beta of 2.15. 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. research analysts forecast that RSP Permian, Inc. will post 0.78 earnings per share for the current year.
RSPP has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $41.00 price target on shares of RSP Permian in a research report on Friday, July 14th. Northland Securities set a $52.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a research report on Monday, July 17th. Zacks Investment Research cut shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Bank of America Corporation initiated coverage on shares of RSP Permian in a research report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $44.00 price target on shares of RSP Permian in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian currently has a consensus rating of “Buy” and an average price target of $46.67.
In related news, COO Zane W. Arrott sold 47,113 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $31.29, for a total value of $1,474,165.77. Following the completion of the sale, the chief operating officer now directly owns 86,614 shares of the company’s stock, valued at $2,710,152.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James E. Mutrie sold 12,447 shares of the company’s 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 completion of the sale, the vice president now directly owns 38,005 shares of the company’s stock, valued at $1,196,017.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,560 shares of company stock valued at $8,060,453. 15.00% of the stock is 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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