K2 Principal Fund L.P. grew its position in shares of RSP Permian Inc (NYSE:RSPP) by 72.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,673 shares of the oil and natural gas company’s stock after buying an additional 21,673 shares during the quarter. K2 Principal Fund L.P.’s holdings in RSP Permian were worth $2,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSPP. King Luther Capital Management Corp purchased a new stake in RSP Permian in the 1st quarter worth $220,000. AMP Capital Investors Ltd bought a new position in shares of RSP Permian during the 2nd quarter valued at about $229,000. Element Capital Management LLC bought a new position in shares of RSP Permian during the 1st quarter valued at about $248,000. Gamco Investors INC. ET AL bought a new position in shares of RSP Permian during the 1st quarter valued at about $248,000. Finally, First Allied Advisory Services Inc. bought a new position in shares of RSP Permian during the 1st quarter valued at about $253,000. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE RSPP opened at $47.83 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 58.33, a PEG ratio of 0.62 and a beta of 1.61. RSP Permian Inc has a 1 year low of $28.76 and a 1 year high of $51.51.
Several research analysts have commented on the stock. Guggenheim reissued a “buy” rating on shares of RSP Permian in a report on Monday, July 23rd. ValuEngine downgraded shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. RSP Permian presently has an average rating of “Buy” and a consensus price target of $52.20.
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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