RSP Permian Inc. (RSPP) Price Target Increased to $51.00 by Analysts at Wunderlich
RSP Permian Inc. (NYSE:RSPP) had its price target upped by research analysts at Wunderlich from $44.00 to $51.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the stock. Wunderlich’s price target points to a potential upside of 20.85% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Co. initiated coverage on shares of RSP Permian in a research note on Wednesday, August 24th. They set an “outperform” rating and a $16.74 target price for the company. Deutsche Bank AG increased their target price on shares of RSP Permian from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Capital One Financial Corp. initiated coverage on shares of RSP Permian in a research note on Thursday, October 6th. They set an “overweight” rating for the company. Zacks Investment Research upgraded shares of RSP Permian from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, October 12th. Finally, FBR & Co initiated coverage on shares of RSP Permian in a research note on Tuesday, September 13th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $37.81.
Shares of RSP Permian (NYSE:RSPP) opened at 42.20 on Monday. RSP Permian has a 12-month low of $16.74 and a 12-month high of $42.72. The firm’s market capitalization is $4.29 billion. The company has a 50-day moving average price of $38.79 and a 200 day moving average price of $34.94.
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RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, August 8th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The business earned $81.50 million during the quarter, compared to the consensus estimate of $71.12 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that RSP Permian will post ($0.19) earnings per share for the current year.
In other news, VP William Huck sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $38.76, for a total value of $232,560.00. Following the completion of the sale, the vice president now owns 387,837 shares of the company’s stock, valued at approximately $15,032,562.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $33.77, for a total transaction of $709,170.00. Following the completion of the sale, the director now directly owns 8,590,088 shares of the company’s stock, valued at approximately $290,087,271.76. The disclosure for this sale can be found here. Corporate insiders own 23.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in RSPP. Dimensional Fund Advisors LP increased its stake in RSP Permian by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,442,447 shares of the company’s stock valued at $189,887,000 after buying an additional 705,142 shares during the last quarter. Bank of New York Mellon Corp raised its position in RSP Permian by 87.6% in the second quarter. Bank of New York Mellon Corp now owns 1,060,580 shares of the company’s stock valued at $37,002,000 after buying an additional 495,224 shares during the period. Neuberger Berman Group LLC raised its position in RSP Permian by 69.6% in the second quarter. Neuberger Berman Group LLC now owns 1,149,800 shares of the company’s stock valued at $40,117,000 after buying an additional 472,000 shares during the period. FMR LLC raised its position in RSP Permian by 29.3% in the second quarter. FMR LLC now owns 1,929,713 shares of the company’s stock valued at $67,327,000 after buying an additional 437,513 shares during the period. Finally, Vanguard Group Inc. raised its position in RSP Permian by 9.2% in the second quarter. Vanguard Group Inc. now owns 4,965,931 shares of the company’s stock valued at $173,261,000 after buying an additional 416,576 shares during the period. 86.35% of the stock is owned by institutional investors.
About RSP Permian
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 operates through the oil and natural gas exploration and production industry in the United States segment.
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