California Public Employees Retirement System lessened its stake in RSP Permian Inc (NYSE:RSPP) by 16.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,200 shares of the oil and natural gas company’s stock after selling 31,000 shares during the quarter. California Public Employees Retirement System owned 0.10% of RSP Permian worth $6,832,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in RSPP. AMP Capital Investors Ltd acquired a new position in RSP Permian during the second quarter worth $229,000. Element Capital Management LLC acquired a new position in RSP Permian during the first quarter worth $248,000. Strs Ohio acquired a new position in RSP Permian during the second quarter worth $349,000. Janney Montgomery Scott LLC acquired a new position in RSP Permian during the second quarter worth $358,000. Finally, Texas Permanent School Fund acquired a new position in RSP Permian during the second quarter worth $396,000. Institutional investors own 89.74% of the company’s stock.
Separately, Guggenheim restated a “buy” rating on shares of RSP Permian in a report on Monday, July 23rd. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. RSP Permian currently has an average rating of “Buy” and an average target price of $52.20.
NYSE RSPP opened at $47.83 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 0.77. RSP Permian Inc has a 1 year low of $28.76 and a 1 year high of $51.51. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 58.33, a PEG ratio of 0.62 and a beta of 1.61.
RSP Permian Company Profile
RSP Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. It owns interest in contiguous acreage blocks in the core of the Midland Basin primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector, and Glasscock; and in Loving and Winkler counties of the Delaware Basin.
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