Morgan Stanley Increases RSP Permian (RSPP) Price Target to $52.00

RSP Permian (NYSE:RSPP) had its price objective hoisted by stock analysts at Morgan Stanley from $46.00 to $52.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price target points to a potential upside of 23.90% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Williams Capital dropped their target price on shares of RSP Permian from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of RSP Permian from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, November 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $47.00 target price on shares of RSP Permian in a research report on Tuesday, October 10th. Stifel Nicolaus set a $43.00 target price on shares of RSP Permian and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $52.00 target price on shares of RSP Permian in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, one has 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 presently has a consensus rating of “Buy” and a consensus price target of $47.61.

RSP Permian (NYSE RSPP) traded up $1.23 during midday trading on Wednesday, hitting $41.97. 2,466,001 shares of the company were exchanged, compared to its average volume of 1,920,000. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $6,660.00, a P/E ratio of 69.95, a price-to-earnings-growth ratio of 0.67 and a beta of 2.15. RSP Permian has a 1 year low of $28.76 and a 1 year high of $44.11.

RSP Permian (NYSE:RSPP) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $201.70 million for 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 company’s revenue was up 115.5% on a year-over-year basis. During the same period last year, the firm posted ($0.01) EPS. equities analysts expect that RSP Permian will post 0.82 earnings per share for the current year.

In other news, VP Erik B. Daugbjerg sold 19,973 shares of the firm’s stock in a transaction on 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 owns 203,598 shares in the company, valued at approximately $7,588,097.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wallace Family Partnership, Lp sold 32,623 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $42.52, for a total transaction of $1,387,129.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,473 shares of company stock valued at $9,073,416. 15.00% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of RSP Permian in the 4th quarter worth $456,000. Denali Advisors LLC acquired a new stake in shares of RSP Permian in the 4th quarter worth $537,000. Cerebellum GP LLC acquired a new stake in shares of RSP Permian in the 4th quarter worth $130,000. State of Alaska Department of Revenue acquired a new stake in shares of RSP Permian in the 4th quarter worth $349,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of RSP Permian by 11.7% in the 4th 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 acquiring an additional 60,098 shares during the period. Institutional investors own 86.20% 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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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