Zacks: Brokerages Expect RSP Permian, Inc. (RSPP) Will Announce Quarterly Sales of $200.25 Million
Analysts expect RSP Permian, Inc. (NYSE:RSPP) to report $200.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for RSP Permian’s earnings, with estimates ranging from $182.81 million to $219.15 million. RSP Permian posted sales of $93.62 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 113.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that RSP Permian will report full year sales of $200.25 million for the current year, with estimates ranging from $741.62 million to $866.66 million. For the next year, analysts anticipate that the company will post sales of $1.09 billion per share, with estimates ranging from $788.80 million to $1.41 billion. Zacks’ sales averages are an average based on a survey of analysts that follow RSP Permian.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. During the same period last year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 124.7% on a year-over-year basis.
A number of brokerages have issued reports on RSPP. TheStreet upgraded shares of RSP Permian from a “c” rating to a “b” rating in a research note on Monday, May 22nd. Credit Suisse Group began coverage on shares of RSP Permian in a research note on Thursday, June 1st. They set an “outperform” rating and a $59.00 price objective on the stock. Williams Capital began coverage on shares of RSP Permian in a research note on Monday, June 12th. They set a “buy” rating and a $47.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $44.00 price objective on shares of RSP Permian in a research note on Thursday, July 20th. Finally, Wolfe Research began coverage on shares of RSP Permian in a research note on Thursday, June 15th. They set an “outperform” rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $47.67.
RSP Permian (NYSE RSPP) opened at 31.17 on Friday. RSP Permian has a one year low of $28.76 and a one year high of $46.92. The company has a market capitalization of $4.94 billion, a P/E ratio of 57.50 and a beta of 2.15. The company’s 50-day moving average is $31.39 and its 200 day moving average is $35.68.
In related news, CEO Steven D. Gray acquired 10,000 shares of RSP Permian stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $29.99 per share, with a total value of $299,900.00. Following the transaction, the chief executive officer now directly owns 311,688 shares in the company, valued at approximately $9,347,523.12. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $32.17, for a total transaction of $1,351,140.00. Following 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. In the last ninety days, insiders have sold 248,560 shares of company stock valued at $7,898,543. Insiders own 15.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. 1st Global Advisors Inc. grew its position in shares of RSP Permian by 1.9% during the 1st quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock worth $273,000 after buying an additional 121 shares during the period. Teacher Retirement System of Texas grew its position in shares of RSP Permian by 4.3% during the 1st quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 331 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of RSP Permian by 1.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 41,236 shares of the oil and natural gas company’s stock worth $1,708,000 after buying an additional 450 shares during the period. Mutual of America Capital Management LLC grew its position in shares of RSP Permian by 0.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock worth $1,905,000 after buying an additional 498 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of RSP Permian by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 27,795 shares of the oil and natural gas company’s stock worth $1,151,000 after buying an additional 688 shares during the period. 86.60% of the stock is owned by institutional investors.
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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