Fmr LLC lowered its position in shares of RSP Permian Inc (NYSE:RSPP) by 28.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,866,934 shares of the oil and natural gas company’s stock after selling 1,152,276 shares during the quarter. Fmr LLC’s holdings in RSP Permian were worth $126,202,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of RSPP. AMP Capital Investors Ltd acquired a new stake in RSP Permian during the 2nd quarter worth about $229,000. Strs Ohio acquired a new stake in RSP Permian during the 2nd quarter worth about $349,000. Janney Montgomery Scott LLC acquired a new stake in RSP Permian during the 2nd quarter worth about $358,000. Texas Permanent School Fund acquired a new stake in RSP Permian during the 2nd quarter worth about $396,000. Finally, Sheets Smith Wealth Management acquired a new stake in RSP Permian during the 2nd quarter worth about $444,000. 89.74% of the stock is owned by institutional investors.
Separately, Guggenheim reaffirmed a “buy” rating on shares of RSP Permian in a research report on Monday, July 23rd. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $52.20.
Shares of RSPP stock opened at $47.83 on Wednesday. RSP Permian Inc has a 52-week low of $28.76 and a 52-week high of $51.51.
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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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