Hodges Capital Management buys $42 Million stake in RSP Permian Inc (RSPP)

RSP Permian Inc (RSPP) : Hodges Capital Management scooped up 90,350 additional shares in RSP Permian Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 26, 2016. The investment management firm now holds a total of 1,259,437 shares of RSP Permian Inc which is valued at $42 Million.RSP Permian Inc makes up approximately 1.91% of Hodges Capital Management’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc boosted its stake in RSPP in the latest quarter, The investment management firm added 6,042 additional shares and now holds a total of 18,933 shares of RSP Permian Inc which is valued at $603,963.Howe Rusling Inc boosted its stake in RSPP in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 63 shares of RSP Permian Inc which is valued at $2,010. Tiger Eye Capital added RSPP to its portfolio by purchasing 507,743 company shares during the most recent quarter which is valued at $16.2 Million. RSP Permian Inc makes up approx 2.04% of Tiger Eye Capital’s portfolio.Kennedy Capital Management boosted its stake in RSPP in the latest quarter, The investment management firm added 76,556 additional shares and now holds a total of 146,584 shares of RSP Permian Inc which is valued at $4.7 Million. RSP Permian Inc makes up approx 0.10% of Kennedy Capital Management’s portfolio.

RSP Permian Inc opened for trading at $32.66 and hit $33.38 on the upside on Wednesday, eventually ending the session at $33.27, with a gain of 1.03% or 0.34 points. The heightened volatility saw the trading volume jump to 10,03,530 shares. Company has a market cap of $3,382 M.

On the company’s financial health, RSP Permian Inc reported $-0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $-0.13. The company had revenue of $55.82 million for the quarter, compared to analysts expectations of $58.61 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on RSP Permian Inc. Company shares were Reiterated by Wunderlich on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 34 from a previous price target of $29 .RSP Permian Inc was Upgraded by Raymond James to ” Strong Buy” on May 4, 2016. Company shares were Reiterated by Deutsche Bank on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $34 .

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’s properties are located on contiguous acreage blocks in the Midland Basin a sub-basin of the Permian Basin primarily in the adjacent counties of Midland Martin Andrews Dawson Ector and Glasscock. As of December 31 2014 the Company has participated in the completion of 92 horizontal wells 45 of which the Company operated. Of these operated horizontal wells three are Wolfcamp A wells 17 are Wolfcamp B wells two are Wolfcamp D wells nine are Middle Spraberry wells 14 are Lower Spraberry wells.

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