Teton Advisors Inc. raised its holdings in RSP Permian Inc (NYSE:RSPP) by 168.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,911 shares of the oil and natural gas company’s stock after purchasing an additional 12,500 shares during the period. Teton Advisors Inc.’s holdings in RSP Permian were worth $810,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Anchor Bolt Capital LP acquired a new stake in RSP Permian in the third quarter valued at approximately $13,494,000. Third Point LLC grew its holdings in RSP Permian by 19.5% in the third quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock valued at $159,114,000 after purchasing an additional 750,000 shares during the period. Legal & General Group Plc grew its holdings in RSP Permian by 21.3% in the third quarter. Legal & General Group Plc now owns 58,735 shares of the oil and natural gas company’s stock valued at $2,032,000 after purchasing an additional 10,325 shares during the period. Mitchell Group Inc. acquired a new stake in RSP Permian in the third quarter valued at approximately $13,825,000. Finally, Eagle Asset Management Inc. grew its holdings in RSP Permian by 21.1% in the third quarter. Eagle Asset Management Inc. now owns 3,836,027 shares of the oil and natural gas company’s stock valued at $133,877,000 after purchasing an additional 669,488 shares during the period. 86.06% of the stock is currently owned by institutional investors.
In other news, VP Erik B. Daugbjerg sold 19,973 shares of RSP Permian stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $37.27, for a total value of $744,393.71. Following the sale, the vice president now directly owns 203,598 shares of the company’s stock, valued at $7,588,097.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wallace Family Partnership, Lp sold 32,623 shares of RSP Permian stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $42.52, for a total value of $1,387,129.96. The disclosure for this sale can be found here. Insiders sold 233,473 shares of company stock worth $9,073,416 over the last ninety days. Corporate insiders own 15.00% of the company’s stock.
RSPP has been the topic of several research analyst reports. Credit Suisse Group set a $51.00 price objective on RSP Permian and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Zacks Investment Research lowered RSP Permian from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Morgan Stanley raised their price objective on RSP Permian from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Royal Bank of Canada raised their price objective on RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, November 13th. Finally, Roth Capital raised their price objective on RSP Permian from $44.00 to $50.50 and gave the company a “buy” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. RSP Permian presently has an average rating of “Buy” and an average price target of $47.93.
Shares of RSP Permian Inc (NYSE:RSPP) opened at $38.30 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $6,074.35, a P/E ratio of 62.79, a PEG ratio of 0.55 and a beta of 1.97. RSP Permian Inc has a 12 month low of $28.76 and a 12 month high of $44.11.
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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