RSP Permian, Inc. (NYSE:RSPP) had its target price cut by Roth Capital from $64.50 to $44.00 in a research report issued on Tuesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Roth Capital’s price objective points to a potential upside of 31.82% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Credit Suisse Group initiated coverage on shares of RSP Permian in a report on Thursday, June 1st. They set an “outperform” rating and a $59.00 target price for the company. Scotiabank set a $51.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a report on Monday, March 27th. Goldman Sachs Group, Inc. (The) raised shares of RSP Permian from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a report on Tuesday, April 11th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $44.00 price objective (down previously from $51.00) on shares of RSP Permian in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.49.

RSP Permian (NYSE RSPP) traded up 4.55% during midday trading on Tuesday, hitting $34.90. The stock had a trading volume of 581,216 shares. RSP Permian has a 52-week low of $29.67 and a 52-week high of $46.92. The firm has a 50-day moving average of $32.85 and a 200 day moving average of $38.47. The firm has a market capitalization of $5.53 billion, a P/E ratio of 135.80 and a beta of 2.13.

RSP Permian (NYSE:RSPP) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. The firm had revenue of $169.93 million during the quarter, compared to analysts’ expectations of $159.81 million. On average, equities analysts forecast that RSP Permian will post $0.79 EPS for the current year.

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In other RSP Permian news, VP James E. Mutrie sold 11,000 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $39.08, for a total value of $429,880.00. Following the sale, the vice president now directly owns 51,627 shares of the company’s stock, valued at approximately $2,017,583.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Steven D. Gray acquired 15,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was purchased at an average cost of $36.19 per share, for a total transaction of $542,850.00. Following the completion of the transaction, the chief executive officer now owns 301,688 shares in the company, valued at approximately $10,918,088.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 17,408,000 shares of company stock worth $674,565,790. 15.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of RSPP. Teacher Retirement System of Texas boosted its position in shares of RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock valued at $335,000 after buying an additional 331 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of RSP Permian by 74.8% in the fourth quarter. Quadrature Capital Ltd now owns 24,324 shares of the oil and natural gas company’s stock valued at $1,086,000 after buying an additional 10,410 shares during the last quarter. Adams Diversified Equity Fund Inc. boosted its position in shares of RSP Permian by 3.1% in the first quarter. Adams Diversified Equity Fund Inc. now owns 20,000 shares of the oil and natural gas company’s stock valued at $829,000 after buying an additional 600 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of RSP Permian by 27.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 592,654 shares of the oil and natural gas company’s stock valued at $24,554,000 after buying an additional 128,887 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of RSP Permian by 49.9% in the fourth quarter. Teachers Advisors LLC now owns 3,291,626 shares of the oil and natural gas company’s stock valued at $146,872,000 after buying an additional 1,095,570 shares during the last quarter. Institutional investors and hedge funds own 77.50% of the company’s stock.

About RSP Permian

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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