Northland Securities Analysts Give RSP Permian (RSPP) a $48.00 Price Target
RSP Permian (NYSE:RSPP) has been given a $48.00 price objective by Northland Securities in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Northland Securities’ target price would indicate a potential upside of 31.04% from the company’s current price.
RSPP has been the subject of a number of other reports. BMO Capital Markets set a $46.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research note on Tuesday, November 14th. ValuEngine lowered shares of RSP Permian from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Barclays upped their target price on shares of RSP Permian from $38.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Scotiabank reaffirmed a “buy” rating and issued a $43.00 target price on shares of RSP Permian in a research note on Wednesday, November 22nd. Finally, Piper Jaffray Companies reduced their target price on shares of RSP Permian from $49.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $46.52.
RSP Permian (NYSE RSPP) traded up $0.18 on Monday, hitting $36.63. 1,274,700 shares of the company were exchanged, compared to its average volume of 2,031,112. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84. RSP Permian has a 1-year low of $28.76 and a 1-year high of $46.92. The company has a market cap of $5,809.49, a PE ratio of 60.05, a P/E/G ratio of 1.77 and a beta of 2.15.
In related news, VP Erik B. Daugbjerg sold 19,973 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $37.27, for a total value of $744,393.71. Following the completion of the sale, the vice president now directly owns 203,598 shares in the company, valued at approximately $7,588,097.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $35.86, for a total transaction of $1,506,120.00. Following the completion of the sale, the director now owns 8,010,851 shares of the company’s stock, valued at $287,269,116.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,973 shares of company stock valued at $5,935,594. Company insiders own 15.00% of the company’s stock.
A number of large investors have recently modified their holdings of RSPP. BNP Paribas Arbitrage SA lifted its stake in RSP Permian by 65.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after purchasing an additional 1,705 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in RSP Permian in the 2nd quarter valued at about $210,000. Gluskin Sheff & Assoc Inc. bought a new position in RSP Permian in the 2nd quarter valued at about $210,000. GSA Capital Partners LLP bought a new position in RSP Permian in the 2nd quarter valued at about $225,000. Finally, Fieldpoint Private Securities LLC bought a new position in RSP Permian in the 3rd quarter valued at about $233,000. Institutional investors and hedge funds own 86.24% of the company’s stock.
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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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