Bocage Capital adds RSP Permian Inc (RSPP) to its portfolio

RSP Permian Inc (RSPP) : Bocage Capital added new position in RSP Permian Inc during the most recent quarter end. The investment management firm now holds 285,431 shares of RSP Permian Inc which is valued at $10,817,835 , the company said in a statement filed on Aug 15, 2016 with the SEC.RSP Permian Inc makes up approximately 8.60% of Bocage Capital’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in RSPP in the latest quarter, The investment management firm added 30,156 additional shares and now holds a total of 260,732 shares of RSP Permian Inc which is valued at $9,881,743. RSP Permian Inc makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.Seven Eight Capital boosted its stake in RSPP in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 6,200 shares of RSP Permian Inc which is valued at $234,980. RSP Permian Inc makes up approx 0.08% of Seven Eight Capital’s portfolio.Fmr boosted its stake in RSPP in the latest quarter, The investment management firm added 437,513 additional shares and now holds a total of 1,929,713 shares of RSP Permian Inc which is valued at $73,136,123. RSP Permian Inc makes up approx 0.01% of Fmr’s portfolio.First Mercantile Trust Co reduced its stake in RSPP by selling 7,502 shares or 37.89% in the most recent quarter. The Hedge Fund company now holds 12,300 shares of RSPP which is valued at $466,170. RSP Permian Inc makes up approx 0.06% of First Mercantile Trust Co’s portfolio.

RSP Permian Inc opened for trading at $38.87 and hit $39.165 on the upside on Thursday, eventually ending the session at $39.1, with a gain of 0.13% or 0.05 points. The heightened volatility saw the trading volume jump to 8,50,496 shares. Company has a market cap of $3,974 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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