RSP Permian, Inc. (NYSE:RSPP) CEO Steven D. Gray acquired 15,000 shares of RSP Permian stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average cost of $36.19 per share, with a total value of $542,850.00. Following the completion of the purchase, the chief executive officer now owns 301,688 shares in the company, valued at approximately $10,918,088.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of RSP Permian, Inc. (NYSE:RSPP) traded down 0.16% during midday trading on Tuesday, hitting $30.57. The stock had a trading volume of 1,072,653 shares. RSP Permian, Inc. has a one year low of $29.67 and a one year high of $46.92. The company has a market cap of $4.85 billion, a P/E ratio of 118.95 and a beta of 2.11. The stock has a 50 day moving average of $37.33 and a 200-day moving average of $40.55.
RSP Permian (NYSE:RSPP) last released its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $169.93 million for the quarter, compared to the consensus estimate of $159.81 million. RSP Permian had a return on equity of 1.18% and a net margin of 6.73%. Analysts forecast that RSP Permian, Inc. will post $0.98 EPS for the current fiscal year.
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A number of analysts have issued reports on RSPP shares. Zacks Investment Research downgraded RSP Permian from a “buy” rating to a “hold” rating in a research note on Saturday, April 22nd. Deutsche Bank AG lowered their price target on RSP Permian to $52.00 and set a “buy” rating for the company in a report on Tuesday, March 7th. Scotiabank set a $51.00 price target on RSP Permian and gave the stock a “buy” rating in a report on Monday, March 27th. Goldman Sachs Group, Inc. (The) upgraded RSP Permian from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, April 11th. Finally, Credit Suisse Group began coverage on RSP Permian in a report on Thursday, June 1st. They set an “outperform” rating and a $59.00 price target for the company. Two research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $48.76.
A number of large investors have recently added to or reduced their stakes in RSPP. Caymus Capital Partners L.P. increased its stake in RSP Permian by 4.6% in the fourth quarter. Caymus Capital Partners L.P. now owns 1,486,300 shares of the oil and natural gas company’s stock worth $66,319,000 after buying an additional 65,200 shares during the last quarter. Cipher Capital LP increased its stake in RSP Permian by 7.5% in the fourth quarter. Cipher Capital LP now owns 177,426 shares of the oil and natural gas company’s stock worth $7,917,000 after buying an additional 12,401 shares during the last quarter. Comerica Bank increased its stake in RSP Permian by 82.8% in the fourth quarter. Comerica Bank now owns 10,215 shares of the oil and natural gas company’s stock worth $433,000 after buying an additional 4,627 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in RSP Permian by 11.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 40,786 shares of the oil and natural gas company’s stock worth $1,820,000 after buying an additional 4,210 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in RSP Permian during the fourth quarter worth $9,940,000. 77.54% of the stock is currently owned by institutional investors.
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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