RSP Permian Inc (RSPP) Stake Lessened by Royal Bank of Canada

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Royal Bank of Canada trimmed its holdings in RSP Permian Inc (NYSE:RSPP) by 32.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 745,383 shares of the oil and natural gas company’s stock after selling 359,754 shares during the quarter. Royal Bank of Canada owned about 0.47% of RSP Permian worth $34,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in RSPP. Legal & General Group Plc raised its stake in RSP Permian by 2.3% during the 1st quarter. Legal & General Group Plc now owns 73,392 shares of the oil and natural gas company’s stock worth $3,441,000 after buying an additional 1,629 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in RSP Permian during the 1st quarter worth approximately $1,406,000. Highbridge Capital Management LLC raised its stake in RSP Permian by 940.0% during the 1st quarter. Highbridge Capital Management LLC now owns 249,015 shares of the oil and natural gas company’s stock worth $11,674,000 after buying an additional 225,071 shares during the period. Segall Bryant & Hamill LLC acquired a new position in RSP Permian during the 1st quarter worth approximately $1,914,000. Finally, Highland Capital Management LP raised its stake in RSP Permian by 47.4% during the 1st quarter. Highland Capital Management LP now owns 210,767 shares of the oil and natural gas company’s stock worth $9,881,000 after buying an additional 67,767 shares during the period. 89.73% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on RSPP shares. Royal Bank of Canada downgraded RSP Permian from an “outperform” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Thursday, March 29th. Jefferies Financial Group set a $51.00 price target on RSP Permian and gave the stock a “buy” rating in a research note on Monday, March 19th. KLR Group downgraded RSP Permian from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Williams Capital set a $58.00 price target on RSP Permian and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Finally, Credit Suisse Group set a $53.00 price target on RSP Permian and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $51.86.

Shares of RSPP opened at $41.85 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 51.04, a P/E/G ratio of 0.52 and a beta of 1.61. RSP Permian Inc has a 52 week low of $28.76 and a 52 week high of $51.51.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Wednesday, May 2nd. The oil and natural gas company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $276.32 million during the quarter, compared to analyst estimates of $279.97 million. RSP Permian had a return on equity of 4.30% and a net margin of 31.07%. The company’s revenue for the quarter was up 62.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. analysts expect that RSP Permian Inc will post 2.32 EPS for the current year.

In other news, insider Wallace Family Partnership, Lp sold 62,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $48.95, for a total value of $3,059,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.00% of the company’s stock.

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

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