Hodges Capital Management Lowers stake in RSP Permian Inc (RSPP)

RSP Permian Inc (RSPP) : Hodges Capital Management reduced its stake in RSP Permian Inc by 12.18% during the most recent quarter end. The investment management company now holds a total of 1,105,980 shares of RSP Permian Inc which is valued at $41,916,642 after selling 153,457 shares in RSP Permian Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.RSP Permian Inc makes up approximately 1.94% of Hodges Capital Management’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in RSPP in the latest quarter, The investment management firm added 21,500 additional shares and now holds a total of 112,802 shares of RSP Permian Inc which is valued at $4,275,196. Dynamic Technology Lab Private Ltd sold out all of its stake in RSPP during the most recent quarter. The investment firm sold 24,374 shares of RSPP which is valued $923,775.Vanguard Group Inc boosted its stake in RSPP in the latest quarter, The investment management firm added 416,576 additional shares and now holds a total of 4,965,931 shares of RSP Permian Inc which is valued at $188,208,785. RSP Permian Inc makes up approx 0.01% of Vanguard Group Inc’s portfolio. Suffolk Capital Management added RSPP to its portfolio by purchasing 75,446 company shares during the most recent quarter which is valued at $2,871,475. RSP Permian Inc makes up approx 0.34% of Suffolk Capital Management’s portfolio. Spot Trading L.l.c sold out all of its stake in RSPP during the most recent quarter. The investment firm sold 180 shares of RSPP which is valued $6,298.

RSP Permian Inc opened for trading at $38.89 and hit $39.66 on the upside on Tuesday, eventually ending the session at $39.23, with a gain of 0.51% or 0.2 points. The heightened volatility saw the trading volume jump to 9,06,342 shares. Company has a market cap of $3,987 M.

On the company’s financial health, RSP Permian Inc reported $-0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.03. The company had revenue of $81.50 million for the quarter, compared to analysts expectations of $78.37 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on RSP Permian Inc. RSP Permian Inc was Initiated by Wells Fargo to “Outperform” on Aug 24, 2016. RSP Permian Inc was Downgraded by Goldman to ” Neutral” on Aug 10, 2016. Company shares were Reiterated by Wunderlich on Aug 10, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $41 .

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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