RSP Permian (RSPP) Lowered to “Sell” at ValuEngine

RSP Permian (NYSE:RSPP) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets set a $46.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research raised shares of RSP Permian from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, November 3rd. Williams Capital dropped their price target on shares of RSP Permian from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Northland Securities reissued a “buy” rating and set a $52.00 price target on shares of RSP Permian in a research note on Wednesday, November 1st. Finally, KeyCorp reissued a “buy” rating and set a $49.00 price target on shares of RSP Permian in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $47.93.

RSP Permian (NYSE RSPP) traded down $2.46 on Thursday, hitting $33.44. 3,682,446 shares of the company were exchanged, compared to its average volume of 2,357,969. 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 $5,430.00, a P/E ratio of 55.73, a price-to-earnings-growth ratio of 0.54 and a beta of 1.97. RSP Permian has a twelve month low of $28.76 and a twelve month high of $44.11.

In other RSP Permian news, CFO Scott K. Mcneill sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were 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 owns 94,477 shares of the company’s stock, valued at $3,500,372.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were 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 directly 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 sold 233,473 shares of company stock valued at $9,073,416 in the last ninety days. Insiders own 15.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its holdings in shares of RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock valued at $335,000 after buying an additional 331 shares during the period. Anchor Bolt Capital LP acquired a new position in shares of RSP Permian in the third quarter valued at approximately $13,494,000. Eagle Asset Management Inc. boosted its holdings in shares of RSP Permian by 8.1% in the second quarter. Eagle Asset Management Inc. now owns 3,166,539 shares of the oil and natural gas company’s stock valued at $102,184,000 after buying an additional 236,985 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of RSP Permian by 24.3% in the first quarter. OppenheimerFunds Inc. now owns 13,448 shares of the oil and natural gas company’s stock valued at $557,000 after buying an additional 2,627 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of RSP Permian by 49.2% in the second quarter. Victory Capital Management Inc. now owns 1,214,602 shares of the oil and natural gas company’s stock valued at $39,195,000 after buying an additional 400,254 shares during the period. Institutional investors own 86.06% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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