RSP Permian’s (RSPP) Buy Rating Reiterated at Nomura
RSP Permian Inc. (NYSE:RSPP)‘s stock had its “buy” rating reissued by investment analysts at Nomura in a research note issued to investors on Monday. They presently have a $48.00 price objective on the stock. Nomura’s target price indicates a potential upside of 13.74% from the company’s previous close.
A number of other brokerages have also recently commented on RSPP. Zacks Investment Research cut RSP Permian from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Deutsche Bank AG increased their target price on RSP Permian from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Goldman Sachs Group Inc. cut RSP Permian from a “buy” rating to a “neutral” rating and increased their target price for the stock from $38.00 to $39.00 in a research note on Wednesday, August 10th. FBR & Co initiated coverage on RSP Permian in a research note on Tuesday, September 13th. They set an “outperform” rating for the company. Finally, Wunderlich increased their target price on RSP Permian from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $38.92.
Shares of RSP Permian (NYSE:RSPP) traded down 0.083% during mid-day trading on Monday, hitting $42.165. 1,174,665 shares of the stock were exchanged. RSP Permian has a 12-month low of $16.74 and a 12-month high of $43.30. The firm has a 50-day moving average price of $38.79 and a 200 day moving average price of $34.94. The company’s market capitalization is $4.29 billion.
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RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). The company earned $81.50 million during the quarter, compared to analysts’ expectations of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. RSP Permian’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. On average, equities research analysts expect that RSP Permian will post ($0.19) earnings per share for the current year.
In other RSP Permian news, VP William Huck sold 6,000 shares of RSP Permian stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $39.79, for a total value of $238,740.00. Following the transaction, the vice president now owns 369,837 shares in the company, valued at $14,715,814.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $33.77, for a total value of $709,170.00. Following the completion of the transaction, the director now owns 8,590,088 shares in the company, valued at approximately $290,087,271.76. The disclosure for this sale can be found here. 23.50% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Boothbay Fund Management LLC raised its stake in shares of RSP Permian by 0.4% in the first quarter. Boothbay Fund Management LLC now owns 8,887 shares of the company’s stock worth $258,000 after buying an additional 39 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of RSP Permian by 0.4% in the second quarter. Raymond James Trust N.A. now owns 9,201 shares of the company’s stock worth $320,000 after buying an additional 41 shares during the last quarter. Texan Capital Management raised its stake in shares of RSP Permian by 2.8% in the second quarter. Texan Capital Management now owns 9,300 shares of the company’s stock worth $324,000 after buying an additional 250 shares during the last quarter. Geneva Advisors LLC raised its stake in shares of RSP Permian by 1.7% in the second quarter. Geneva Advisors LLC now owns 23,298 shares of the company’s stock worth $813,000 after buying an additional 394 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of RSP Permian by 3.7% in the second quarter. Panagora Asset Management Inc. now owns 11,046 shares of the company’s stock worth $385,000 after buying an additional 394 shares during the last quarter. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
RSP Permian Company Profile
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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