$201.49 Million in Sales Expected for RSP Permian, Inc. (RSPP) This Quarter
Wall Street analysts forecast that RSP Permian, Inc. (NYSE:RSPP) will announce sales of $201.49 million for the current quarter, Zacks reports. Twelve analysts have provided estimates for RSP Permian’s earnings. The highest sales estimate is $219.15 million and the lowest is $182.81 million. RSP Permian posted sales of $93.62 million during the same quarter last year, which suggests a positive year-over-year growth rate of 115.2%. The firm is expected to announce its next quarterly earnings report after the market closes on Monday, November 6th.
According to Zacks, analysts expect that RSP Permian will report full year sales of $201.49 million for the current financial year, with estimates ranging from $741.62 million to $866.66 million. For the next financial year, analysts expect that the business will post sales of $1.12 billion per share, with estimates ranging from $788.80 million to $1.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for RSP Permian.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company 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 12.71% and a return on equity of 1.86%. The firm’s revenue was up 124.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS.
A number of research firms have recently issued reports on RSPP. Jefferies Group LLC reissued a “buy” rating and issued a $46.00 price target on shares of RSP Permian in a research note on Thursday, July 6th. Scotiabank set a $43.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research note on Saturday, July 1st. BMO Capital Markets set a $38.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research note on Monday, June 26th. Williams Capital set a $47.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research note on Tuesday, August 8th. Finally, Roth Capital reduced their price target on shares of RSP Permian from $64.50 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $46.83.
RSP Permian (NYSE:RSPP) opened at 33.55 on Friday. The company has a market capitalization of $5.32 billion, a P/E ratio of 61.90 and a beta of 2.17. RSP Permian has a one year low of $28.76 and a one year high of $46.92. The company’s 50-day moving average is $32.96 and its 200 day moving average is $34.56.
In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $34.74, for a total transaction of $1,459,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven D. Gray purchased 10,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were purchased at an average price of $29.99 per share, with a total value of $299,900.00. Following the acquisition, the chief executive officer now directly owns 311,688 shares in the company, valued at $9,347,523.12. The disclosure for this purchase can be found here. Insiders have sold a total of 248,560 shares of company stock valued at $8,060,453 in the last quarter. 15.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in RSP Permian by 11.8% during the 2nd quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock worth $321,513,000 after acquiring an additional 1,054,281 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of RSP Permian by 15,355.9% in the 1st 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 in the last quarter. Boston Partners boosted its holdings in shares of RSP Permian by 10.3% in the 2nd 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 in the last quarter. FMR LLC boosted its holdings in shares of RSP Permian by 5.9% in the 2nd quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after buying an additional 300,249 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of RSP Permian by 38.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after buying an additional 1,073,137 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.
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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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