Texas Capital Bancshares Inc. TX increased its stake in shares of RSP Permian, Inc. (NYSE:RSPP) by 86.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,250 shares of the oil and natural gas company’s stock after buying an additional 9,835 shares during the period. RSP Permian accounts for approximately 1.6% of Texas Capital Bancshares Inc. TX’s investment portfolio, making the stock its 12th largest position. Texas Capital Bancshares Inc. TX’s holdings in RSP Permian were worth $686,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RSPP. Adams Diversified Equity Fund Inc. raised its stake in shares of RSP Permian by 3.1% in the first quarter. Adams Diversified Equity Fund Inc. now owns 20,000 shares of the oil and natural gas company’s stock valued at $829,000 after buying an additional 600 shares during the last quarter. Adams Natural Resources Fund Inc. raised its stake in shares of RSP Permian by 6.0% in the first quarter. Adams Natural Resources Fund Inc. now owns 145,000 shares of the oil and natural gas company’s stock worth $6,007,000 after buying an additional 8,200 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of RSP Permian during the first quarter worth about $893,000. Nationwide Fund Advisors raised its stake in shares of RSP Permian by 3.2% in the first quarter. Nationwide Fund Advisors now owns 88,767 shares of the oil and natural gas company’s stock worth $3,678,000 after buying an additional 2,748 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC raised its stake in shares of RSP Permian by 62.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 44,907 shares of the oil and natural gas company’s stock worth $1,860,000 after buying an additional 17,253 shares in the last quarter. Institutional investors own 78.60% of the company’s stock.
RSP Permian, Inc. (RSPP) opened at 31.32 on Friday. The stock’s 50 day moving average price is $32.65 and its 200 day moving average price is $37.14. The firm has a market capitalization of $4.97 billion, a PE ratio of 57.79 and a beta of 2.13. RSP Permian, Inc. has a 52-week low of $29.67 and a 52-week high of $46.92.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm had revenue of $183.10 million for the quarter, compared to analysts’ expectations of $185.01 million. During the same period in the previous year, the company posted ($0.04) EPS. The company’s quarterly revenue was up 124.7% compared to the same quarter last year. Analysts expect that RSP Permian, Inc. will post $0.72 earnings per share for the current year.
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A number of analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of RSP Permian in a research note on Wednesday. Zacks Investment Research upgraded RSP Permian from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Imperial Capital started coverage on RSP Permian in a research report on Tuesday. They set an “outperform” rating and a $42.00 price objective on the stock. Roth Capital set a $44.00 price objective on RSP Permian and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) upgraded RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 price objective on the stock in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.56.
In related news, CEO Steven D. Gray purchased 15,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were acquired at an average cost of $36.19 per share, for a total transaction of $542,850.00. Following the acquisition, the chief executive officer now directly owns 301,688 shares in the company, valued at approximately $10,918,088.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Richard A. Kayne sold 17,250,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total transaction of $668,955,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,465,113 shares of company stock worth $675,966,446. Corporate insiders own 15.00% of the company’s stock.
RSP Permian Company Profile
RSP Permian, Inc is an independent oil and natural gas company. The Company is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The Company’s properties are located on contiguous acreage blocks in the Midland Basin, and the Delaware Basin, both sub-basins of the Permian Basin.
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