RSP Permian Inc (NYSE:RSPP) – Stock analysts at KeyCorp raised their Q1 2018 earnings estimates for shares of RSP Permian in a research report issued to clients and investors on Sunday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will post earnings of $0.54 per share for the quarter, up from their prior estimate of $0.46. KeyCorp has a “Buy” rating and a $52.00 price objective on the stock. KeyCorp also issued estimates for RSP Permian’s Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.74 EPS, Q1 2019 earnings at $0.83 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $1.04 EPS and Q4 2019 earnings at $1.09 EPS.
A number of other equities research analysts also recently weighed in on the company. Roth Capital raised their price target on RSP Permian from $44.00 to $50.50 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus set a $43.00 price target on RSP Permian and gave the company a “buy” rating in a research report on Thursday, October 5th. Scotiabank restated a “buy” rating and set a $43.00 price target on shares of RSP Permian in a research report on Wednesday, November 22nd. Credit Suisse Group assumed coverage on RSP Permian in a research report on Monday, December 11th. They set an “outperform” rating and a $44.00 price target on the stock. Finally, Robert W. Baird assumed coverage on RSP Permian in a research report on Tuesday, December 19th. They set an “outperform” rating and a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $46.75.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The company had revenue of $201.70 million for the quarter, compared to the consensus estimate of $201.34 million. During the same quarter last year, the business posted ($0.01) earnings per share. The firm’s revenue was up 115.5% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its stake in shares of RSP Permian by 65.7% in the second 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. Sentry Investment Management LLC bought a new stake in shares of RSP Permian in the second quarter worth about $210,000. GSA Capital Partners LLP bought a new stake in shares of RSP Permian in the second quarter worth about $225,000. Fieldpoint Private Securities LLC bought a new stake in shares of RSP Permian in the third quarter worth about $233,000. Finally, Teton Advisors Inc. bought a new stake in shares of RSP Permian in the third quarter worth about $256,000. 86.20% of the stock is currently owned by institutional investors.
In related news, insider Wallace Family Partnership, Lp sold 32,623 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $42.52, for a total value of $1,387,129.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott K. Mcneill sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $37.05, for a total value of $926,250.00. Following the completion of the sale, the chief financial officer now directly owns 94,477 shares in the company, valued at $3,500,372.85. The disclosure for this sale can be found here. Insiders have sold 203,596 shares of company stock worth $7,801,254 over the last ninety days. Insiders own 15.00% 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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