RSP Permian (RSPP) Receives New Coverage from Analysts at Credit Suisse Group

Equities researchers at Credit Suisse Group initiated coverage on shares of RSP Permian (NYSE:RSPP) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $44.00 price target on the oil and natural gas company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 20.48% from the company’s current price.

A number of other brokerages also recently weighed in on RSPP. Royal Bank of Canada raised their price objective on RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, November 13th. Zacks Investment Research downgraded RSP Permian from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Northland Securities set a $48.00 price objective on RSP Permian and gave the company a “buy” rating in a research report on Monday, December 11th. Barclays raised their price objective on RSP Permian from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 20th. Finally, BMO Capital Markets set a $46.00 price target on RSP Permian and gave the stock a “buy” rating in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $45.87.

Shares of RSP Permian (NYSE RSPP) traded down $0.35 during trading on Monday, hitting $36.52. The stock had a trading volume of 1,868,282 shares, compared to its average volume of 1,394,997. The stock has a market capitalization of $5,792.04, a price-to-earnings ratio of 59.87, a P/E/G ratio of 1.75 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84. RSP Permian has a 1 year low of $28.76 and a 1 year high of $46.92.

RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The firm had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was up 115.5% on a year-over-year basis. research analysts forecast that RSP Permian will post 0.79 earnings per share for the current year.

In related news, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total transaction of $730,380.00. Following the completion of the transaction, the director now directly owns 8,094,851 shares in the company, valued at $281,538,917.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Scott K. Mcneill sold 25,000 shares of the business’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,973 shares of company stock valued at $6,861,844. 15.00% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Fieldpoint Private Securities LLC purchased a new stake in shares of RSP Permian in the third quarter valued at approximately $233,000. California Public Employees Retirement System boosted 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 acquiring an additional 3,900 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of RSP Permian in the third quarter worth approximately $411,000. 3G Capital Partners LP boosted its stake in shares of RSP Permian by 42.9% in the third quarter. 3G Capital Partners LP now owns 1,000,000 shares of the oil and natural gas company’s stock worth $34,590,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its stake in shares of RSP Permian by 1,344.6% in the third quarter. Highbridge Capital Management LLC now owns 111,115 shares of the oil and natural gas company’s stock worth $3,843,000 after acquiring an additional 103,423 shares during the last quarter. Institutional investors and hedge funds own 86.24% 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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)