Monarch Partners Asset Management LLC Invests $7,433,000 in RSP Permian Inc. (RSPP)
Monarch Partners Asset Management LLC purchased a new position in RSP Permian Inc. (NYSE:RSPP) during the second quarter, Holdings Channel reports. The fund purchased 213,035 shares of the company’s stock, valued at approximately $7,433,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in RSP Permian by 50,766.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,052 shares of the company’s stock worth $106,000 after buying an additional 3,046 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in RSP Permian during the first quarter valued at approximately $248,000. Boothbay Fund Management LLC raised its stake in RSP Permian by 0.4% in the first quarter. Boothbay Fund Management LLC now owns 8,887 shares of the company’s stock valued at $258,000 after buying an additional 39 shares during the last quarter. Virginia Retirement System purchased a new stake in RSP Permian during the first quarter valued at approximately $299,000. Finally, Panagora Asset Management Inc. purchased a new stake in RSP Permian during the first quarter valued at approximately $309,000. Hedge funds and other institutional investors own 86.36% of the company’s stock.
Shares of RSP Permian Inc. (NYSE:RSPP) traded up 0.23% on Monday, reaching $38.87. The company’s stock had a trading volume of 1,269,331 shares. RSP Permian Inc. has a 1-year low of $16.74 and a 1-year high of $40.74. The company has a 50 day moving average of $38.40 and a 200 day moving average of $34.28. The stock’s market capitalization is $3.95 billion.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The business had revenue of $81.50 million for the quarter, compared to analyst estimates of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. Equities research analysts expect that RSP Permian Inc. will post ($0.19) earnings per share for the current fiscal year.
Several analysts have commented on RSPP shares. Deutsche Bank AG increased their price target on shares of RSP Permian from $39.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Wells Fargo & Co. started coverage on shares of RSP Permian in a research report on Wednesday, August 24th. They set an “outperform” rating and a $16.74 price target for the company. Zacks Investment Research lowered shares of RSP Permian from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. FBR & Co started coverage on shares of RSP Permian in a research report on Tuesday, September 13th. They set an “outperform” rating for the company. Finally, Simmons reissued an “overweight” rating and set a $40.00 price target (up from $38.00) on shares of RSP Permian in a research report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.03.
In other news, VP William Huck sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $39.73, for a total value of $238,380.00. Following the transaction, the vice president now owns 381,837 shares of the company’s stock, valued at $15,170,384.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $33.77, for a total value of $709,170.00. Following the completion of the transaction, the director now directly owns 8,590,088 shares in the company, valued at approximately $290,087,271.76. The disclosure for this sale can be found here. 23.50% of the stock is owned by insiders.
About RSP Permian
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
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