RSP Permian (RSPP) Insider Wallace Family Partnership, Lp Sells 62,500 Shares

RSP Permian (NYSE:RSPP) insider Wallace Family Partnership, Lp sold 62,500 shares of the business’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 transaction of $2,925,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wallace Family Partnership, Lp also recently made the following trade(s):

How to Become a New Pot Stock Millionaire
  • On Monday, January 22nd, Wallace Family Partnership, Lp sold 29,877 shares of RSP Permian stock. The stock was sold at an average price of $42.58, for a total transaction of $1,272,162.66.
  • On Friday, January 12th, Wallace Family Partnership, Lp sold 32,623 shares of RSP Permian stock. The stock was sold at an average price of $42.52, for a total transaction of $1,387,129.96.

NYSE:RSPP traded up $0.08 during midday trading on Tuesday, reaching $47.89. 4,653,216 shares of the stock traded hands, compared to its average volume of 3,629,500. RSP Permian has a 12 month low of $28.76 and a 12 month high of $48.35. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7,517.66, a P/E ratio of 58.74, a P/E/G ratio of 0.64 and a beta of 1.66.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%. The company had revenue of $249.02 million during the quarter, compared to analyst estimates of $246.71 million. analysts anticipate that RSP Permian will post 2.23 EPS for the current year.

RSPP has been the subject of a number of research reports. Robert W. Baird initiated coverage on shares of RSP Permian in a research note on Tuesday, December 19th. They issued an “outperform” rating and a $46.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price target (up previously from $45.00) on shares of RSP Permian in a research note on Tuesday, December 19th. Jefferies Group set a $48.00 price objective on shares of RSP Permian and gave the company a “buy” rating in a research note on Wednesday, December 20th. Royal Bank of Canada set a $47.00 price objective on shares of RSP Permian and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Piper Jaffray reaffirmed a “buy” rating and issued a $50.00 price objective on shares of RSP Permian in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the company’s stock. RSP Permian has a consensus rating of “Buy” and a consensus price target of $50.43.

A number of hedge funds and other institutional investors have recently modified their holdings of RSPP. Carillon Tower Advisers Inc. bought a new position in RSP Permian in the 4th quarter worth $127,821,000. Millennium Management LLC raised its holdings 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 purchasing an additional 2,240,454 shares in the last quarter. Boston Partners raised its holdings in 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 worth $359,476,000 after purchasing an additional 1,475,996 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in RSP Permian by 208.1% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,015,071 shares of the oil and natural gas company’s stock worth $69,701,000 after purchasing an additional 1,361,049 shares in the last quarter. Finally, Tide Point Capital Management LP increased its stake in shares of RSP Permian by 186.3% in the 4th quarter. Tide Point Capital Management LP now owns 1,963,563 shares of the oil and natural gas company’s stock worth $79,878,000 after acquiring an additional 1,277,690 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was first reported by Macon Daily and is the sole property of of Macon Daily. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://macondaily.com/2018/04/17/wallace-family-partnership-lp-sells-62500-shares-of-rsp-permian-rspp-stock-updated-updated.html.

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.

Insider Buying and Selling by Quarter for RSP Permian (NYSE:RSPP)

Receive News & Ratings for RSP Permian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RSP Permian and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply