RSP Permian, Inc. (NYSE:RSPP) Position Lowered by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of RSP Permian, Inc. (NYSE:RSPP) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,600 shares of the oil and natural gas company’s stock after selling 15,400 shares during the period. California Public Employees Retirement System owned approximately 0.12% of RSP Permian worth $6,819,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RSPP. Quadrature Capital Ltd raised its stake in RSP Permian by 74.8% in the fourth quarter. Quadrature Capital Ltd now owns 24,324 shares of the oil and natural gas company’s stock worth $1,086,000 after buying an additional 10,410 shares during the period. Adams Diversified Equity Fund Inc. raised its stake in 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 worth $829,000 after buying an additional 600 shares during the period. Teachers Advisors LLC raised its position in shares of RSP Permian by 49.9% in the fourth quarter. Teachers Advisors LLC now owns 3,291,626 shares of the oil and natural gas company’s stock valued at $146,872,000 after buying an additional 1,095,570 shares during the last quarter. Bank of Montreal Can raised its position in shares of RSP Permian by 12.3% in the first quarter. Bank of Montreal Can now owns 150,694 shares of the oil and natural gas company’s stock valued at $6,243,000 after buying an additional 16,547 shares during the last quarter. Finally, E&G Advisors LP raised its position in shares of RSP Permian by 17.1% in the first quarter. E&G Advisors LP now owns 13,700 shares of the oil and natural gas company’s stock valued at $568,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 77.50% of the company’s stock.

Shares of RSP Permian, Inc. (NYSE RSPP) traded down 0.57% during trading on Friday, hitting $34.71. The company’s stock had a trading volume of 934,079 shares. RSP Permian, Inc. has a 52 week low of $29.67 and a 52 week high of $46.92. The company has a market cap of $5.50 billion, a PE ratio of 135.06 and a beta of 2.12. The firm’s 50 day moving average price is $32.80 and its 200-day moving average price is $38.27.

RSP Permian (NYSE:RSPP) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $169.93 million for the quarter, compared to analyst estimates of $159.81 million. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. On average, analysts predict that RSP Permian, Inc. will post $0.73 earnings per share for the current year.

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Several research analysts recently weighed in on RSPP shares. Zacks Investment Research lowered RSP Permian from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine lowered RSP Permian from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Credit Suisse Group started coverage on RSP Permian in a research report on Thursday, June 1st. They issued an “outperform” rating and a $59.00 price objective for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $44.00 price objective on shares of RSP Permian in a research report on Thursday, July 20th. Finally, Barclays PLC reiterated a “buy” rating and issued a $38.00 price objective on shares of RSP Permian in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.49.

In related news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $40.59, for a total transaction of $1,704,780.00. Following the completion of the sale, the director now owns 8,306,651 shares of the company’s stock, valued at approximately $337,166,964.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James E. Mutrie sold 11,000 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $39.08, for a total transaction of $429,880.00. Following the sale, the vice president now directly owns 51,627 shares of the company’s stock, valued at approximately $2,017,583.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,408,000 shares of company stock worth $674,565,790. Company 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.

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

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