RSP Permian (RSPP) Upgraded at Johnson Rice

RSP Permian (NYSE:RSPP) was upgraded by investment analysts at Johnson Rice from an “accumulate” rating to a “buy” rating in a research note issued on Monday, Marketbeat.com reports.

RSPP has been the subject of several other research reports. Northland Securities set a $48.00 target price on RSP Permian and gave the stock a “buy” rating in a research note on Monday, December 11th. Zacks Investment Research lowered RSP Permian from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Credit Suisse Group began coverage on RSP Permian in a research note on Monday, December 11th. They issued an “outperform” rating and a $44.00 target price for the company. Royal Bank of Canada upped their target price on RSP Permian from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, November 13th. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $47.61.

RSP Permian (NYSE RSPP) traded up $0.17 during mid-day trading on Monday, hitting $42.14. 888,793 shares of the company traded hands, compared to its average volume of 1,892,631. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $6,660.00, a PE ratio of 69.97, a price-to-earnings-growth ratio of 0.69 and a beta of 2.15. RSP Permian has a one year low of $28.76 and a one year high of $44.11.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. RSP Permian’s revenue for the quarter was up 115.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. equities analysts anticipate that RSP Permian will post 0.83 earnings per share for the current fiscal year.

In other news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 8,052,851 shares of the company’s stock, valued at $286,762,024.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Wallace Family Partnership, Lp sold 32,623 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $42.52, for a total value of $1,387,129.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,473 shares of company stock valued at $9,073,416. Insiders own 15.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. purchased a new stake in RSP Permian in the fourth quarter worth $456,000. Denali Advisors LLC purchased a new stake in RSP Permian in the fourth quarter worth $537,000. Cerebellum GP LLC purchased a new stake in RSP Permian in the fourth quarter worth $130,000. State of Alaska Department of Revenue purchased a new stake in RSP Permian in the fourth quarter worth $349,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in 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 acquiring an additional 60,098 shares during the period. 86.16% of the stock is owned by institutional investors.

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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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