Bank of New York Mellon Corp lifted its holdings in shares of RSP Permian (NYSE:RSPP) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 729,740 shares of the oil and natural gas company’s stock after purchasing an additional 15,581 shares during the quarter. Bank of New York Mellon Corp owned 0.46% of RSP Permian worth $29,685,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of RSPP. Boston Partners grew its holdings in shares of RSP Permian by 20.1% during the fourth quarter. Boston Partners now owns 8,836,699 shares of the oil and natural gas company’s stock worth $359,476,000 after purchasing an additional 1,475,996 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of RSP Permian by 208.1% during the third quarter. Alyeska Investment Group L.P. now owns 2,015,071 shares of the oil and natural gas company’s stock worth $69,701,000 after purchasing an additional 1,361,049 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of RSP Permian by 163.2% during the third quarter. JPMorgan Chase & Co. now owns 1,322,262 shares of the oil and natural gas company’s stock worth $45,632,000 after purchasing an additional 819,846 shares in the last quarter. Third Point LLC grew its holdings in shares of RSP Permian by 19.5% during the third quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock worth $159,114,000 after purchasing an additional 750,000 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of RSP Permian by 18.2% during the fourth quarter. Eagle Asset Management Inc. now owns 4,534,674 shares of the oil and natural gas company’s stock worth $183,598,000 after purchasing an additional 698,647 shares in the last quarter. 90.66% of the stock is owned by institutional investors.
RSPP stock traded down $2.11 during midday trading on Friday, hitting $41.47. The company had a trading volume of 6,657,869 shares, compared to its average volume of 5,722,229. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $6,612.02, a P/E ratio of 50.57, a PEG ratio of 0.56 and a beta of 1.67. RSP Permian has a 52 week low of $28.76 and a 52 week high of $47.17.
RSP Permian (NYSE:RSPP) last announced its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $249.02 million during the quarter, compared to the consensus estimate of $246.71 million. RSP Permian had a return on equity of 3.07% and a net margin of 28.88%. equities analysts predict that RSP Permian will post 2.23 earnings per share for the current year.
RSPP has been the subject of a number of recent research reports. ValuEngine downgraded RSP Permian from a “hold” rating to a “sell” rating in a research report on Saturday. Seaport Global Securities downgraded RSP Permian from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Credit Suisse Group downgraded RSP Permian from an “outperform” rating to a “hold” rating and dropped their target price for the stock from $53.00 to $51.00 in a research report on Tuesday, April 3rd. Raymond James Financial restated a “market perform” rating on shares of RSP Permian in a research report on Monday, April 2nd. Finally, KLR Group downgraded RSP Permian from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.41.
In related news, insider Wallace Family Partnership, Lp sold 32,623 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $42.52, for a total transaction of $1,387,129.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 125,000 shares of company stock valued at $5,584,918. 15.00% of the stock is owned by corporate insiders.
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About RSP Permian
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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