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

RSP Permian Inc (RSPP) : Brenham Capital Management reduced its stake in RSP Permian Inc by 11.11% during the most recent quarter end. The investment management company now holds a total of 3,200,000 shares of RSP Permian Inc which is valued at $124,448,000 after selling 400,000 shares in RSP Permian Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.RSP Permian Inc makes up approximately 15.53% of Brenham Capital Management’s portfolio.

Other Hedge Funds, Including , Clough Capital Partners L P added RSPP to its portfolio by purchasing 223,098 company shares during the most recent quarter which is valued at $8,676,281. RSP Permian Inc makes up approx 0.46% of Clough Capital Partners L P’s portfolio.Eam Investors reduced its stake in RSPP by selling 1,858 shares or 2.54% in the most recent quarter. The Hedge Fund company now holds 71,377 shares of RSPP which is valued at $2,885,772. RSP Permian Inc makes up approx 0.40% of Eam Investors’s portfolio.Bokf Na boosted its stake in RSPP in the latest quarter, The investment management firm added 8,270 additional shares and now holds a total of 11,203 shares of RSP Permian Inc which is valued at $452,937. RSP Permian Inc makes up approx 0.02% of Bokf Na’s portfolio. Sg Americas Securities added RSPP to its portfolio by purchasing 31,072 company shares during the most recent quarter which is valued at $1,180,115. RSP Permian Inc makes up approx 0.01% of Sg Americas Securities’s portfolio.Channing Capital Management boosted its stake in RSPP in the latest quarter, The investment management firm added 3,003 additional shares and now holds a total of 1,114,616 shares of RSP Permian Inc which is valued at $40,672,338. RSP Permian Inc makes up approx 1.67% of Channing Capital Management’s portfolio.

RSP Permian Inc opened for trading at $40.02 and hit $41.59 on the upside on Monday, eventually ending the session at $41.08, with a gain of 3.35% or 1.33 points. The heightened volatility saw the trading volume jump to 19,04,317 shares. Company has a market cap of $5,215 M.

On the company’s financial health, RSP Permian Inc reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $-0.02. The company had revenue of $93.62 million for the quarter, compared to analysts expectations of $93.56 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on RSP Permian Inc. Company shares were Reiterated by Canaccord Genuity on Oct 17, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $42 .Company shares were Reiterated by Wunderlich on Oct 17, 2016 to “Buy”, Firm has raised the Price Target to $ 51 from a previous price target of $44 .FBR & Co. Initiated RSP Permian Inc on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $55.

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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