RSP Permian, Inc. (RSPP) Stake Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its position in shares of RSP Permian, Inc. (NYSE:RSPP) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 592,654 shares of the oil and natural gas company’s stock after buying an additional 128,887 shares during the period. Schwab Charles Investment Management Inc. owned 0.37% of RSP Permian worth $24,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RSPP. Teacher Retirement System of Texas increased its position in RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 331 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of 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 valued at $1,086,000 after buying an additional 10,410 shares in the last quarter. Adams Diversified Equity Fund Inc. increased its position 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 in the last quarter. Teachers Advisors LLC increased 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 in the last quarter. Finally, Bank of Montreal Can increased 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 in the last quarter. Hedge funds and other institutional investors 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 stock had a trading volume of 934,079 shares. The firm’s 50 day moving average is $32.80 and its 200 day moving average is $38.27. RSP Permian, Inc. has a 1-year low of $29.67 and a 1-year 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.

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

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Several research analysts have recently commented on the company. Roth Capital reduced their target price on RSP Permian from $64.50 to $44.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank Of Canada reiterated a “buy” rating and set a $44.00 target price on shares of RSP Permian in a research note on Thursday, July 20th. Bank of America Corporation assumed coverage on RSP Permian in a research note on Wednesday, July 19th. They set a “buy” rating and a $45.00 target price for the company. Zacks Investment Research downgraded RSP Permian from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Northland Securities set a $52.00 target price on RSP Permian and gave the stock a “buy” rating in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.49.

In other RSP Permian news, VP James E. Mutrie sold 11,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $39.08, for a total transaction of $429,880.00. Following the sale, the vice president now owns 51,627 shares in the company, valued at $2,017,583.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $40.59, for a total value of $1,704,780.00. Following the sale, the director now owns 8,306,651 shares in the company, valued at approximately $337,166,964.09. The disclosure for this sale can be found here. Insiders have sold 17,408,000 shares of company stock worth $674,565,790 in the last 90 days. 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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