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

RSP Permian Inc (RSPP) : Talara Capital Management reduced its stake in RSP Permian Inc by 19.29% during the most recent quarter end. The investment management company now holds a total of 623,408 shares of RSP Permian Inc which is valued at $23,627,163 after selling 148,970 shares in RSP Permian Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.RSP Permian Inc makes up approximately 10.26% of Talara Capital Management’s portfolio.

Other Hedge Funds, Including , Encompass Capital Advisors sold out all of its stake in RSPP during the most recent quarter. The investment firm sold 604,741 shares of RSPP which is valued $22,919,684.Renaissance Technologies reduced its stake in RSPP by selling 101,500 shares or 23.01% in the most recent quarter. The Hedge Fund company now holds 339,700 shares of RSPP which is valued at $12,874,630. RSP Permian Inc makes up approx 0.02% of Renaissance Technologies’s portfolio.Ashburton (jersey) Ltd boosted its stake in RSPP in the latest quarter, The investment management firm added 6,800 additional shares and now holds a total of 54,520 shares of RSP Permian Inc which is valued at $1,959,994. RSP Permian Inc makes up approx 0.79% of Ashburton (jersey) Ltd’s portfolio. Meeder Asset Management Inc added RSPP to its portfolio by purchasing 530 company shares during the most recent quarter which is valued at $18,380.

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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