Chicago Capital Management LLC Takes $12.88 Million Position in RSP Permian (RSPP)

Chicago Capital Management LLC bought a new position in RSP Permian (NYSE:RSPP) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 274,672 shares of the oil and natural gas company’s stock, valued at approximately $12,877,000. RSP Permian accounts for about 5.0% of Chicago Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Chicago Capital Management LLC owned approximately 0.17% of RSP Permian at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RSPP. Carillon Tower Advisers Inc. bought a new stake in RSP Permian in the 4th quarter worth approximately $127,821,000. Millennium Management LLC grew its position in RSP Permian by 97.9% in the 4th quarter. Millennium Management LLC now owns 4,529,224 shares of the oil and natural gas company’s stock worth $184,249,000 after purchasing an additional 2,240,454 shares during the period. Boston Partners grew its position in RSP Permian by 20.1% in the 4th 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 during the period. Tide Point Capital Management LP grew its position in RSP Permian by 186.3% in the 4th quarter. Tide Point Capital Management LP now owns 1,963,563 shares of the oil and natural gas company’s stock worth $79,878,000 after purchasing an additional 1,277,690 shares during the period. Finally, Viking Global Investors LP bought a new stake in RSP Permian in the 4th quarter worth approximately $46,798,000. 88.62% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on RSPP shares. Roth Capital boosted their price objective on shares of RSP Permian from $44.00 to $50.50 and gave the company a “buy” rating in a research report on Monday, January 22nd. KeyCorp set a $52.00 price objective on shares of RSP Permian and gave the company a “buy” rating in a research report on Sunday, January 21st. Zacks Investment Research raised shares of RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, January 23rd. Credit Suisse Group set a $51.00 price objective on shares of RSP Permian and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price objective on shares of RSP Permian from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Thirteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. RSP Permian presently has an average rating of “Buy” and a consensus target price of $51.55.

In related news, insider Wallace Family Partnership, Lp sold 62,500 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $46.81, for a total value of $2,925,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.00% of the company’s stock.

Shares of RSP Permian stock opened at $49.00 on Friday. The firm has a market capitalization of $7.55 billion, a P/E ratio of 59.76, a PEG ratio of 0.60 and a beta of 1.66. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. RSP Permian has a fifty-two week low of $46.99 and a fifty-two week high of $47.50.

RSP Permian (NYSE:RSPP) last issued its earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $276.32 million during the quarter, compared to the consensus estimate of $279.97 million. RSP Permian had a net margin of 31.07% and a return on equity of 4.30%. RSP Permian’s quarterly revenue was up 62.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. sell-side analysts forecast that RSP Permian will post 2.34 EPS for the current year.

RSP Permian 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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Institutional Ownership by Quarter for RSP Permian (NYSE:RSPP)

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