RSP Permian (RSPP) Position Boosted by LPL Financial LLC
LPL Financial LLC lifted its stake in RSP Permian (NYSE:RSPP) by 129.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,718 shares of the oil and natural gas company’s stock after purchasing an additional 7,751 shares during the quarter. LPL Financial LLC’s holdings in RSP Permian were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Boston Partners boosted its position in shares of RSP Permian by 20.1% in the 4th quarter. Boston Partners now owns 8,836,699 shares of the oil and natural gas company’s stock valued at $359,476,000 after purchasing an additional 1,475,996 shares during the period. TIAA CREF Investment Management LLC lifted its stake in RSP Permian by 8.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 5,522,496 shares of the oil and natural gas company’s stock worth $224,655,000 after acquiring an additional 419,316 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in RSP Permian by 18.2% in the 4th quarter. Eagle Asset Management Inc. now owns 4,534,674 shares of the oil and natural gas company’s stock worth $183,598,000 after acquiring an additional 698,647 shares in the last quarter. Millennium Management LLC lifted its stake in RSP Permian by 97.9% in the 4th quarter. Millennium Management LLC now owns 4,529,224 shares of the oil and natural gas company’s stock worth $184,249,000 after acquiring an additional 2,240,454 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in RSP Permian by 21.8% in the 4th quarter. Teachers Advisors LLC now owns 3,632,271 shares of the oil and natural gas company’s stock worth $147,761,000 after acquiring an additional 650,443 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.
RSPP opened at $47.81 on Tuesday. RSP Permian has a fifty-two week low of $28.76 and a fifty-two week high of $48.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $7,517.66, a PE ratio of 58.30, a PEG ratio of 0.64 and a beta of 1.66.
In related news, insider Wallace Family Partnership, Lp sold 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $46.81, for a total value of $2,925,625.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.00% of the stock is owned by company insiders.
RSPP has been the subject of several research analyst reports. TheStreet raised RSP Permian from a “c+” rating to a “b-” rating in a research note on Friday, March 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price objective (up from $45.00) on shares of RSP Permian in a research note on Tuesday, December 19th. Johnson Rice raised RSP Permian from an “accumulate” rating to a “buy” rating in a research note on Monday, January 29th. Credit Suisse Group set a $51.00 price objective on RSP Permian and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the stock. RSP Permian currently has a consensus rating of “Buy” and a consensus price target of $50.43.
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RSP Permian Company 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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