Zacks: Analysts Anticipate RSP Permian, Inc. (RSPP) to Announce $0.15 Earnings Per Share
Wall Street brokerages expect RSP Permian, Inc. (NYSE:RSPP) to announce $0.15 earnings per share for the current quarter, according to Zacks. Ten analysts have provided estimates for RSP Permian’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.21. RSP Permian posted earnings of ($0.04) per share during the same quarter last year, which suggests a positive year over year growth rate of 475%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Monday, August 7th.
On average, analysts expect that RSP Permian will report full year earnings of $0.72 per share for the current year, with EPS estimates ranging from $0.57 to $1.17. For the next financial year, analysts expect that the firm will report earnings of $1.18 per share, with EPS estimates ranging from $0.43 to $1.94. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow RSP Permian.
A number of brokerages recently issued reports on RSPP. Scotiabank set a $43.00 price objective on RSP Permian and gave the stock a “buy” rating in a research report on Saturday, July 1st. TheStreet raised RSP Permian from a “c” rating to a “b” rating in a research report on Monday, May 22nd. Stifel Nicolaus began coverage on RSP Permian in a research report on Wednesday, April 12th. They set a “buy” rating and a $46.00 price objective for the company. BMO Capital Markets set a $38.00 price objective on RSP Permian and gave the stock a “buy” rating in a research report on Monday, June 26th. Finally, Roth Capital cut their price objective on RSP Permian from $64.50 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.49.
In related news, CEO Steven D. Gray acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was acquired at an average price of $36.19 per share, for a total transaction of $542,850.00. Following the purchase, the chief executive officer now owns 301,688 shares of the company’s stock, valued at approximately $10,918,088.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Richard A. Kayne sold 17,250,000 shares of RSP Permian 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 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 quarter. Company insiders own 15.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of RSP Permian by 16.4% in the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock valued at $369,096,000 after buying an additional 1,256,249 shares during the last quarter. BlackRock Inc. boosted its position in shares of RSP Permian by 15,355.9% in the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock valued at $306,537,000 after buying an additional 7,351,042 shares during the last quarter. Boston Partners boosted its position in shares of RSP Permian by 10.3% in the second quarter. Boston Partners now owns 7,291,558 shares of the oil and natural gas company’s stock valued at $235,299,000 after buying an additional 681,747 shares during the last quarter. State Street Corp boosted its position in shares of RSP Permian by 30.2% in the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock valued at $149,756,000 after buying an additional 838,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of RSP Permian by 66.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock valued at $116,142,000 after buying an additional 1,118,888 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.
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Shares of RSP Permian (NYSE:RSPP) traded down 0.84% during mid-day trading on Monday, hitting $30.85. 1,398,245 shares of the stock were exchanged. The company has a 50-day moving average price of $32.76 and a 200-day moving average price of $38.07. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 120.04 and a beta of 2.13. RSP Permian has a 12 month low of $29.67 and a 12 month high of $46.92.
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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