RSP Permian, Inc. (RSPP) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of RSP Permian, Inc. (NYSE:RSPP) have been assigned a consensus recommendation of “Buy” from the twenty-eight analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $46.96.
RSPP has been the topic of a number of research reports. Jefferies Group LLC reissued a “buy” rating and set a $46.00 price target on shares of RSP Permian in a report on Thursday, July 6th. Scotiabank set a $43.00 price target on RSP Permian and gave the stock a “buy” rating in a report on Saturday, July 1st. Williams Capital set a $47.00 price target on RSP Permian and gave the stock a “buy” rating in a report on Tuesday, August 8th. Roth Capital reduced their price objective on shares of RSP Permian from $64.50 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $44.00 price objective on shares of RSP Permian in a research report on Thursday, July 20th.
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In related news, CEO Steven D. Gray acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $29.99 per share, for a total transaction of $299,900.00. Following 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James E. Mutrie sold 12,447 shares of RSP Permian stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $31.47, for a total value of $391,707.09. Following the transaction, the vice president now owns 38,005 shares of the company’s stock, valued at $1,196,017.35. The disclosure for this sale can be found here. Insiders have sold a total of 248,560 shares of company stock valued at $8,060,453 over the last 90 days. Insiders own 15.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in shares of RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after purchasing an additional 1,705 shares during the last quarter. Gluskin Sheff & Assoc Inc. purchased a new stake in RSP Permian in the 2nd quarter worth approximately $210,000. Sentry Investment Management LLC purchased a new stake in RSP Permian in the 2nd quarter worth approximately $210,000. GSA Capital Partners LLP purchased a new stake in RSP Permian in the 2nd quarter worth approximately $225,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in RSP Permian in the 1st quarter worth approximately $342,000. Hedge funds and other institutional investors own 86.63% of the company’s stock.
RSP Permian (NYSE RSPP) opened at 31.75 on Wednesday. The firm has a market cap of $5.04 billion, a PE ratio of 58.58 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 stock has a 50 day moving average price of $32.95 and a 200 day moving average price of $34.34.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The firm had revenue of $183.10 million for the quarter, compared to analyst estimates of $185.01 million. During the same quarter last year, the company posted ($0.04) earnings per share. The business’s revenue was up 124.7% on a year-over-year basis. Equities research analysts expect that RSP Permian will post $0.75 EPS for the current year.
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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