RSP Permian, Inc. (NYSE:RSPP)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank Of Canada in a note issued to investors on Thursday. They currently have a $44.00 target price on the oil and natural gas company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 31.78% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Scotiabank set a $51.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research note on Monday, March 27th. Wolfe Research started coverage on shares of RSP Permian in a research note on Thursday, June 15th. They set an “outperform” rating and a $45.00 price target for the company. Credit Suisse Group started coverage on shares of RSP Permian in a research note on Thursday, June 1st. They set an “outperform” rating and a $59.00 price target for the company. Williams Capital started coverage on shares of RSP Permian in a research note on Monday, June 12th. They set a “buy” rating and a $47.00 price target for the company. Finally, BMO Capital Markets set a $38.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research note on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $48.10.

RSP Permian (NYSE RSPP) traded down 1.39% during mid-day trading on Thursday, reaching $33.39. 2,842,896 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $33.09 and a 200-day moving average of $38.75. RSP Permian has a 12 month low of $29.67 and a 12 month high of $46.92. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 129.92 and a beta of 2.12.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business had revenue of $169.93 million during the quarter, compared to the consensus estimate of $159.81 million. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. Analysts anticipate that RSP Permian will post $0.90 earnings per share for the current year.

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In other news, VP James E. Mutrie sold 11,000 shares of RSP Permian stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $39.08, for a total transaction of $429,880.00. Following the completion of the transaction, the vice president now directly owns 51,627 shares in the company, valued at $2,017,583.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $40.59, for a total transaction of $1,704,780.00. Following the transaction, the director now owns 8,306,651 shares of the company’s stock, valued at $337,166,964.09. The disclosure for this sale can be found here. Insiders sold 17,408,000 shares of company stock valued at $674,565,790 over the last 90 days. Corporate insiders own 15.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of RSPP. B & T Capital Management DBA Alpha Capital Management acquired a new position in shares of RSP Permian during the first quarter worth about $893,000. Nationwide Fund Advisors boosted its position in shares of RSP Permian by 3.2% in the first quarter. Nationwide Fund Advisors now owns 88,767 shares of the oil and natural gas company’s stock worth $3,678,000 after buying an additional 2,748 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of RSP Permian by 62.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 44,907 shares of the oil and natural gas company’s stock worth $1,860,000 after buying an additional 17,253 shares in the last quarter. Bank of Montreal Can boosted its position in shares of RSP Permian by 12.3% in the first quarter. Bank of Montreal Can now owns 150,694 shares of the oil and natural gas company’s stock worth $6,243,000 after buying an additional 16,547 shares in the last quarter. Finally, E&G Advisors LP boosted its position in shares of RSP Permian by 17.1% in the first quarter. E&G Advisors LP now owns 13,700 shares of the oil and natural gas company’s stock worth $568,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.

RSP Permian Company Profile

RSP Permian, Inc is an independent oil and natural gas company. The Company is engaged in 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’s properties are located on contiguous acreage blocks in the Midland Basin, and the Delaware Basin, both sub-basins of the Permian Basin.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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