RSP Permian, Inc. (RSPP) Lifted to Sell at BidaskClub
RSP Permian, Inc. (NYSE:RSPP) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.
Several other equities analysts also recently issued reports on RSPP. Roth Capital set a $44.00 price objective on RSP Permian and gave the stock a “buy” rating in a research report on Wednesday, August 9th. 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. Goldman Sachs Group, Inc. (The) upgraded RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, August 9th. Imperial Capital assumed coverage on RSP Permian in a research report on Tuesday, August 15th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, Zacks Investment Research upgraded RSP Permian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $47.67.
RSP Permian (RSPP) traded up 0.22% during mid-day trading on Friday, hitting $31.23. The stock had a trading volume of 2,252,877 shares. RSP Permian has a 12-month low of $28.76 and a 12-month high of $46.92. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 57.62 and a beta of 2.15. The company has a 50-day moving average of $31.28 and a 200-day moving average of $35.61.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The business’s revenue was up 124.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, analysts anticipate that RSP Permian will post $0.73 earnings per share for the current fiscal year.
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In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 8,220,851 shares of the company’s stock, valued at approximately $264,464,776.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.21, for a total transaction of $676,410.00. Following the sale, the director now directly owns 8,220,851 shares in the company, valued at $264,793,610.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 248,560 shares of company stock worth $7,898,543. Company insiders own 15.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Sentry Investment Management LLC acquired a new stake in RSP Permian during the 2nd quarter valued at $210,000. Dynamic Technology Lab Private Ltd acquired a new stake in RSP Permian during the 2nd quarter valued at $1,003,000. Public Employees Retirement System of Ohio acquired a new stake in RSP Permian during the 2nd quarter valued at $1,892,000. Verition Fund Management LLC acquired a new stake in RSP Permian during the 2nd quarter valued at $310,000. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in RSP Permian during the 2nd quarter valued at $6,454,000. 86.60% of the stock is currently 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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