RSP Permian (NYSE:RSPP) received a $52.00 price objective from stock analysts at KeyCorp in a report issued on Sunday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. KeyCorp’s target price suggests a potential upside of 25.85% from the company’s current price.
Several other brokerages also recently commented on RSPP. Zacks Investment Research downgraded shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Royal Bank of Canada increased their target price on shares of RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, November 13th. Roth Capital increased their target price on shares of RSP Permian from $44.00 to $50.50 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets reiterated a “buy” rating and issued a $51.00 target price on shares of RSP Permian in a report on Thursday, January 11th. Finally, Northland Securities reiterated a “buy” rating and issued a $52.00 target price on shares of RSP Permian in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. RSP Permian presently has an average rating of “Buy” and a consensus target price of $46.75.
RSP Permian (NYSE:RSPP) traded up $0.23 during trading on Friday, hitting $41.32. 971,100 shares of the company’s stock were exchanged, compared to its average volume of 1,856,608. RSP Permian has a 12-month low of $28.76 and a 12-month high of $44.11. The company has a market capitalization of $6,750.00, a price-to-earnings ratio of 68.87, a price-to-earnings-growth ratio of 0.75 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.84.
RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The firm’s revenue for the quarter was up 115.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) earnings per share. sell-side analysts forecast that RSP Permian will post 0.81 earnings per share for the current fiscal year.
In other news, insider Wallace Family Partnership, Lp sold 32,623 shares of RSP Permian stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $42.52, for a total value of $1,387,129.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $35.61, for a total transaction of $1,495,620.00. Following the completion of the transaction, the director now owns 8,052,851 shares of the company’s stock, valued at approximately $286,762,024.11. The disclosure for this sale can be found here. Insiders have sold 203,596 shares of company stock valued at $7,801,254 in the last 90 days. 15.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in shares of RSP Permian in the fourth quarter worth about $349,000. Schwab Charles Investment Management Inc. increased its stake in shares of RSP Permian by 11.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 573,920 shares of the oil and natural gas company’s stock worth $23,348,000 after purchasing an additional 60,098 shares in the last quarter. Bank of Montreal Can increased its stake in shares of RSP Permian by 14.7% in the fourth quarter. Bank of Montreal Can now owns 154,119 shares of the oil and natural gas company’s stock worth $6,270,000 after purchasing an additional 19,772 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new position in shares of RSP Permian in the third quarter worth about $233,000. Finally, California Public Employees Retirement System increased its stake in shares of RSP Permian by 2.4% in the third quarter. California Public Employees Retirement System now owns 163,700 shares of the oil and natural gas company’s stock worth $5,662,000 after purchasing an additional 3,900 shares in the last quarter. Hedge funds and other institutional investors own 86.20% 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.