RSP Permian Price Target Raised to $44.00 at Howard Weil (RSPP)
Research analysts at Howard Weil hoisted their price objective on shares of RSP Permian (NASDAQ:RSPP) from $42.00 to $44.00 in a report released on Friday. The firm currently has a “sector outperform” rating on the stock. Howard Weil’s target price points to a potential upside of 35.47% from the stock’s previous close.
RSP Permian (NASDAQ:RSPP) traded down 0.37% during mid-day trading on Friday, hitting $32.48. The stock had a trading volume of 675,943 shares. RSP Permian has a 1-year low of $19.50 and a 1-year high of $33.67. The stock has a 50-day moving average of $30.37 and a 200-day moving average of $27.48. The company’s market cap is $2.355 billion.
RSP Permian (NASDAQ:RSPP) last announced its earnings results on Tuesday, May 13th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.01. The company had revenue of $62.36 million for the quarter, compared to the consensus estimate of $57.97 million. The company’s quarterly revenue was up 16.5% on a year-over-year basis. On average, analysts predict that RSP Permian will post $1.12 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at KLR Group upgraded shares of RSP Permian from an “accumulate” rating to a “buy” rating in a research note on Monday. They now have a $8.00 price target on the stock, down previously from $42.00. Separately, analysts at Mizuho raised their price target on shares of RSP Permian from $33.00 to $36.00 in a research note on Friday, July 18th. They now have a “buy” rating on the stock. Finally, analysts at GMP Securities initiated coverage on shares of RSP Permian in a research note on Tuesday, June 24th. They set a “hold” rating and a $35.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. RSP Permian has an average rating of “Buy” and an average price target of $31.97.
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.
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