Robert W. Baird started coverage on shares of RSP Permian (NYSE:RSPP) in a report issued on Tuesday. The brokerage set an “outperform” rating and a $46.00 price target on the oil and natural gas company’s stock. Robert W. Baird’s price target suggests a potential upside of 24.63% from the company’s current price.
Several other analysts have also recently commented on the company. Zacks Investment Research cut RSP Permian from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Royal Bank of Canada raised their price target on RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, November 13th. Barclays raised their price target on RSP Permian from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Scotiabank reiterated a “buy” rating and issued a $43.00 price target on shares of RSP Permian in a report on Wednesday, November 22nd. Finally, KeyCorp reiterated a “buy” rating and issued a $49.00 price target on shares of RSP Permian in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.88.
Shares of RSP Permian (NYSE:RSPP) opened at $36.91 on Tuesday. 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 $5,792.05, a price-to-earnings ratio of 59.87, a PEG ratio of 1.75 and a beta of 2.15. RSP Permian has a 1-year low of $28.76 and a 1-year high of $46.92.
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 value of $730,380.00. Following the sale, the director now owns 8,094,851 shares of the company’s stock, valued at approximately $281,538,917.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Scott K. Mcneill sold 25,000 shares of RSP Permian 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 directly owns 94,477 shares in the company, valued at approximately $3,500,372.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,973 shares of company stock worth $6,861,844. 15.00% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of RSPP. Eagle Asset Management grew its stake in RSP Permian by 71.3% in the third quarter. Eagle Asset Management now owns 6,055,366 shares of the oil and natural gas company’s stock valued at $122,620,000 after purchasing an additional 2,519,789 shares in the last quarter. Russell Frank Co grew its stake in RSP Permian by 180.5% in the fourth quarter. Russell Frank Co now owns 149,937 shares of the oil and natural gas company’s stock valued at $3,655,000 after purchasing an additional 96,474 shares in the last quarter. Cambiar Investors LLC bought a new position in RSP Permian in the fourth quarter valued at approximately $30,777,000. Neuberger Berman Group LLC boosted its stake in shares of RSP Permian by 5,704.3% during the 4th quarter. Neuberger Berman Group LLC now owns 700,875 shares of the oil and natural gas company’s stock worth $17,094,000 after acquiring an additional 688,800 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in shares of RSP Permian by 11.2% during the 4th quarter. Nationwide Fund Advisors now owns 77,725 shares of the oil and natural gas company’s stock worth $1,896,000 after acquiring an additional 7,854 shares during the period. Hedge funds and other institutional investors own 86.19% 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.
