Eagle Asset Management Inc. raised its holdings in RSP Permian (NYSE:RSPP) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,869,239 shares of the oil and natural gas company’s stock after buying an additional 334,565 shares during the quarter. RSP Permian makes up approximately 1.2% of Eagle Asset Management Inc.’s holdings, making the stock its 3rd largest holding. Eagle Asset Management Inc. owned 3.05% of RSP Permian worth $228,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Chicago Capital Management LLC purchased a new stake in RSP Permian in the 1st quarter valued at about $12,877,000. Kellner Capital LLC acquired a new position in shares of RSP Permian in the 1st quarter valued at about $5,283,000. Envestnet Asset Management Inc. lifted its stake in shares of RSP Permian by 4.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 27,266 shares of the oil and natural gas company’s stock valued at $1,278,000 after purchasing an additional 1,253 shares in the last quarter. King Luther Capital Management Corp acquired a new position in shares of RSP Permian in the 1st quarter valued at about $220,000. Finally, Kassirer Asset Management Corp acquired a new position in shares of RSP Permian in the 1st quarter valued at about $3,765,000. Institutional investors own 88.62% of the company’s stock.
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In other RSP Permian news, insider Wallace Family Partnership, Lp sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $46.81, for a total value of $2,925,625.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 15.00% of the company’s stock.
RSP Permian stock opened at $49.00 on Friday. The company has a market cap of $7.55 billion, a P/E ratio of 59.76, a P/E/G ratio of 0.60 and a beta of 1.66. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. RSP Permian has a one year low of $46.99 and a one year high of $47.50.
RSP Permian (NYSE:RSPP) last announced its earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.50. RSP Permian had a return on equity of 4.30% and a net margin of 31.07%. The company had revenue of $276.32 million for the quarter, compared to analyst estimates of $279.97 million. During the same period in the prior year, the company posted $0.16 EPS. RSP Permian’s quarterly revenue was up 62.6% on a year-over-year basis. sell-side analysts expect that RSP Permian will post 2.34 EPS for the current year.
RSPP has been the topic of several research analyst reports. Roth Capital lifted their price objective on RSP Permian from $44.00 to $50.50 and gave the company a “buy” rating in a research note on Monday, January 22nd. KeyCorp set a $52.00 price objective on RSP Permian and gave the company a “buy” rating in a research note on Sunday, January 21st. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Tuesday, January 23rd. Credit Suisse Group set a $51.00 price objective 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. Finally, Morgan Stanley lifted their price objective on RSP Permian from $46.00 to $52.00 and gave the company an “overweight” rating in a research note 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. The stock presently has a consensus rating of “Buy” and an average price target of $51.55.
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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