RSP Permian, Inc. (RSPP) Price Target Raised to $45.00
RSP Permian, Inc. (NYSE:RSPP) had its target price lifted by stock analysts at Barclays PLC from $38.00 to $45.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Barclays PLC’s target price would indicate a potential upside of 30.10% from the company’s current price.
Other analysts also recently issued research reports about the stock. Roth Capital lowered their target price on shares of RSP Permian from $64.50 to $44.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $44.00 target price on shares of RSP Permian in a report on Thursday, July 20th. Bank of America Corporation initiated coverage on shares of RSP Permian in a report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 target price for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $46.00 target price on shares of RSP Permian in a report on Thursday, July 6th. Finally, Scotiabank set a $43.00 target price on shares of RSP Permian and gave the company a “buy” rating in a report on Saturday, July 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.39.
Shares of RSP Permian (NYSE:RSPP) traded up 0.20% on Wednesday, hitting $34.59. 1,137,583 shares of the stock were exchanged. The stock’s 50-day moving average is $32.29 and its 200-day moving average is $34.85. RSP Permian has a 1-year low of $28.76 and a 1-year high of $46.92. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 63.82 and a beta of 2.17.
RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm’s revenue for the quarter was up 124.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Analysts forecast that RSP Permian will post $0.74 earnings per share for the current year.
In other news, VP James E. Mutrie sold 12,447 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $31.47, for a total value of $391,707.09. Following the completion of the transaction, the vice president now directly owns 38,005 shares in the company, valued at $1,196,017.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven D. Gray acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average price of $29.99 per share, with a total value of $299,900.00. Following the completion of the transaction, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The disclosure for this purchase can be found here. Insiders have sold 248,560 shares of company stock valued at $8,060,453 in the last quarter. Company insiders own 15.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. 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 acquiring an additional 331 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of RSP Permian by 0.9% in the second quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock valued at $1,905,000 after acquiring an additional 498 shares during the period. Comerica Bank boosted its position in shares of RSP Permian by 8.8% in the first quarter. Comerica Bank now owns 11,117 shares of the oil and natural gas company’s stock valued at $422,000 after acquiring an additional 902 shares during the period. Legal & General Group Plc boosted its position in shares of RSP Permian by 2.7% in the first quarter. Legal & General Group Plc now owns 35,697 shares of the oil and natural gas company’s stock valued at $1,476,000 after acquiring an additional 945 shares during the period. Finally, Denver Investment Advisors LLC boosted its position in shares of RSP Permian by 8.3% in the second quarter. Denver Investment Advisors LLC now owns 12,365 shares of the oil and natural gas company’s stock valued at $399,000 after acquiring an additional 950 shares during the period. Institutional investors own 86.57% of the company’s stock.
RSP Permian Company Profile
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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