RBC Capital Increases RSP Permian Price Target to $38.00 (RSPP)
Research analysts at RBC Capital boosted their price target on shares of RSP Permian (NASDAQ:RSPP) from $34.00 to $38.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target indicates a potential upside of 47.63% from the stock’s previous close.
Shares of RSP Permian (NASDAQ:RSPP) opened at 25.74 on Friday. RSP Permian has a 52 week low of $19.50 and a 52 week high of $33.67. The stock’s 50-day moving average is $30.35 and its 200-day moving average is $27.62. The company’s market cap is $1.866 billion.
RSP Permian (NASDAQ:RSPP) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ 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. RSP Permian’s revenue was up 16.5% compared to the same quarter last year. Analysts expect that RSP Permian will post $1.13 EPS for the current fiscal year.
RSPP has been the subject of a number of other recent research reports. Analysts at Mizuho raised their price target on shares of RSP Permian from $36.00 to $38.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of RSP Permian in a research note on Friday, July 25th. They now have a $37.00 price target on the stock, up previously from $30.00. Finally, analysts at Howard Weil raised their price target on shares of RSP Permian from $42.00 to $44.00 in a research note on Friday, July 25th. They now have a “sector outperform” rating on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. RSP Permian presently has a consensus rating of “Buy” and a consensus target price of $33.11.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.