RSP Permian, Inc. (NYSE:RSPP) Announces Quarterly Earnings Results
RSP Permian, Inc. (NYSE:RSPP) posted its earnings results on Monday. The oil and natural gas company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02, Briefing.com reports. The firm had revenue of $183.10 million for the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. The business’s quarterly revenue was up 124.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share.
RSP Permian (NYSE RSPP) traded down 1.09% on Monday, reaching $30.77. 4,648,531 shares of the company traded hands. RSP Permian has a 52-week low of $29.67 and a 52-week high of $46.92. The firm has a market cap of $4.88 billion, a P/E ratio of 119.73 and a beta of 2.13. The stock has a 50-day moving average price of $32.76 and a 200-day moving average price of $38.07.
Several equities analysts have commented on the stock. Roth Capital lowered their target price on shares of RSP Permian from $64.50 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. Royal Bank Of Canada reissued a “buy” rating and set a $44.00 target price on shares of RSP Permian in a research report on Thursday, July 20th. Bank of America Corporation assumed coverage on shares of RSP Permian in a research report on Wednesday, July 19th. They set a “buy” rating and a $45.00 target price on the stock. Zacks Investment Research downgraded shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Northland Securities set a $52.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $47.49.
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In other RSP Permian news, major shareholder Richard A. Kayne sold 17,250,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total value of $668,955,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $32.17, for a total transaction of $1,351,140.00. Following the completion of the sale, the director now directly owns 8,220,851 shares of the company’s stock, valued at approximately $264,464,776.67. The disclosure for this sale can be found here. Insiders sold a total of 17,397,000 shares of company stock valued at $674,135,910 in the last three months. Insiders own 15.00% 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.
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