Wunderlich Boosts RSP Permian Inc. (RSPP) Price Target to $51.00
RSP Permian Inc. (NYSE:RSPP) had its target price lifted by research analysts at Wunderlich from $44.00 to $51.00 in a report released on Monday. The brokerage currently has a “buy” rating on the stock. Wunderlich’s target price would suggest a potential upside of 21.11% from the stock’s current price.
Several other equities research analysts also recently commented on the company. Canaccord Genuity reissued a “buy” rating and issued a $50.00 price objective (up previously from $42.00) on shares of RSP Permian in a report on Friday. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, October 12th. Capital One Financial Corp. began coverage on RSP Permian in a report on Thursday, October 6th. They issued an “overweight” rating for the company. Nomura reissued a “buy” rating and issued a $17.00 price objective on shares of RSP Permian in a report on Monday, September 26th. Finally, FBR & Co began coverage on RSP Permian in a report on Tuesday, September 13th. They issued an “outperform” rating for the company. Six equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. RSP Permian has a consensus rating of “Buy” and an average target price of $39.21.
Shares of RSP Permian (NYSE:RSPP) traded down 0.21% during midday trading on Monday, reaching $42.11. 3,261,449 shares of the company’s stock traded hands. RSP Permian has a 52-week low of $16.74 and a 52-week high of $43.30. The stock has a 50 day moving average of $38.79 and a 200-day moving average of $34.94. The stock’s market cap is $4.28 billion.
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RSP Permian (NYSE:RSPP) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company earned $81.50 million during the quarter, compared to the consensus estimate of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities research analysts expect that RSP Permian will post ($0.19) EPS for the current year.
In related news, VP William Huck sold 6,000 shares of RSP Permian stock in a transaction that occurred on 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 directly owns 369,837 shares of the company’s stock, valued at $14,715,814.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth V. Huseman acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average cost of $37.76 per share, for a total transaction of $75,520.00. Following the completion of the purchase, the director now owns 19,510 shares of the company’s stock, valued at $736,697.60. The disclosure for this purchase can be found here. Insiders own 23.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of RSPP. BNP Paribas Arbitrage SA raised its position in shares of RSP Permian by 107.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,341 shares of the company’s stock valued at $246,000 after buying an additional 3,289 shares during the period. Macquarie Group Ltd. raised its position in shares of RSP Permian by 21.4% in the second quarter. Macquarie Group Ltd. now owns 673,493 shares of the company’s stock valued at $23,498,000 after buying an additional 118,618 shares during the period. Sanctuary Wealth Advisors LLC acquired a new position in shares of RSP Permian during the second quarter valued at about $3,635,000. Schwab Charles Investment Management Inc. raised its position in shares of RSP Permian by 13.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 260,732 shares of the company’s stock valued at $9,097,000 after buying an additional 30,156 shares during the period. Finally, Amalgamated Bank raised its position in shares of RSP Permian by 21.8% in the second quarter. Amalgamated Bank now owns 8,588 shares of the company’s stock valued at $327,000 after buying an additional 1,536 shares during the period. 86.35% of the stock is currently owned by 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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