Dai Ichi Life Insurance Company Ltd grew its position in RSP Permian, Inc. (NYSE:RSPP) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,764 shares of the oil and natural gas company’s stock after purchasing an additional 9,912 shares during the period. Dai Ichi Life Insurance Company Ltd owned about 0.07% of RSP Permian worth $3,348,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in shares of RSP Permian by 65.7% during 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 acquiring an additional 1,705 shares in the last quarter. 1st Global Advisors Inc. increased its position in shares of RSP Permian by 1.9% during the first quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock worth $273,000 after acquiring an additional 121 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of RSP Permian during the first quarter worth $279,000. Lucas Capital Management bought a new stake in shares of RSP Permian during the second quarter worth $290,000. Finally, Teacher Retirement System of Texas increased its position in shares of RSP Permian by 19.5% during the second quarter. Teacher Retirement System of Texas now owns 9,670 shares of the oil and natural gas company’s stock worth $312,000 after acquiring an additional 1,579 shares in the last quarter. Institutional investors own 86.60% of the company’s stock.
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RSPP has been the subject of several research reports. TheStreet raised shares of RSP Permian from a “c” rating to a “b” rating in a research report on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and set a $46.00 price objective on shares of RSP Permian in a research report on Thursday, July 6th. Scotiabank set a $43.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $38.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research report on Monday, June 26th. Finally, Williams Capital initiated coverage on shares of RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. RSP Permian has a consensus rating of “Buy” and an average target price of $47.67.
In related news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $30.71, for a total transaction of $1,289,820.00. Following the completion of the transaction, the director now owns 8,136,851 shares in the company, valued at $249,882,694.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Steven D. Gray purchased 10,000 shares of RSP Permian stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average price of $29.99 per share, with a total value of $299,900.00. Following the transaction, the chief executive officer now owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 248,560 shares of company stock valued at $7,898,543. 15.00% of the stock is owned by company insiders.
Shares of RSP Permian, Inc. (NYSE:RSPP) opened at 30.10 on Wednesday. The stock’s 50 day moving average is $31.68 and its 200-day moving average is $35.82. RSP Permian, Inc. has a 1-year low of $28.76 and a 1-year high of $46.92. The firm has a market cap of $4.77 billion, a PE ratio of 55.54 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Analysts expect that RSP Permian, Inc. will post $0.73 earnings per share for the current year.
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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