Ashburton Jersey Ltd reduced its stake in RSP Permian Inc (NYSE:RSPP) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,616 shares of the oil and natural gas company’s stock after selling 7,000 shares during the quarter. RSP Permian accounts for 1.1% of Ashburton Jersey Ltd’s investment portfolio, making the stock its 14th biggest holding. Ashburton Jersey Ltd’s holdings in RSP Permian were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. American International Group Inc. purchased a new stake in shares of RSP Permian in the fourth quarter valued at approximately $119,000. Cerebellum GP LLC purchased a new stake in shares of RSP Permian in the fourth quarter valued at approximately $130,000. Cadence Capital Management LLC purchased a new stake in shares of RSP Permian in the fourth quarter valued at approximately $206,000. CIBC Asset Management Inc purchased a new stake in shares of RSP Permian in the fourth quarter valued at approximately $217,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of RSP Permian in the third quarter valued at approximately $233,000. Institutional investors own 90.66% of the company’s stock.
RSPP has been the topic of a number of analyst reports. Credit Suisse Group set a $51.00 price target on RSP Permian and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, January 23rd. Morgan Stanley lifted their price target on RSP Permian from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Roth Capital lifted their price objective on RSP Permian from $44.00 to $50.50 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $51.00 price objective on shares of RSP Permian in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $49.76.
In other news, insider Wallace Family Partnership, Lp sold 29,877 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $42.58, for a total value of $1,272,162.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $41.47, for a total value of $1,741,740.00. Following the completion of the transaction, the director now directly owns 7,968,851 shares of the company’s stock, valued at $330,468,250.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,500 shares of company stock valued at $4,401,033. Insiders own 15.00% of the company’s stock.
RSPP stock opened at $38.37 on Wednesday. RSP Permian Inc has a 1-year low of $28.76 and a 1-year high of $43.35. The firm has a market capitalization of $6,226.19, a price-to-earnings ratio of 25.75, a PEG ratio of 0.52 and a beta of 1.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. RSP Permian had a return on equity of 3.07% and a net margin of 28.88%. The company had revenue of $249.02 million during the quarter, compared to analysts’ expectations of $246.71 million. equities research analysts anticipate that RSP Permian Inc will post 2.24 EPS for the current year.
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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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