RSP Permian (NYSE:RSPP) received a $47.00 target price from equities research analysts at Royal Bank of Canada in a report released on Wednesday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 23.75% from the company’s previous close.
Other research analysts have also issued reports about the stock. Williams Capital dropped their price target on shares of RSP Permian from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of RSP Permian from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and set a $47.00 price target on shares of RSP Permian in a research note on Tuesday, October 10th. Stifel Nicolaus set a $43.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Northland Securities reiterated a “buy” rating and set a $52.00 price target on shares of RSP Permian in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $45.74.
RSP Permian (NYSE:RSPP) opened at $37.98 on Wednesday. RSP Permian has a one year low of $28.76 and a one year high of $46.92. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock has a market cap of $5,874.52, a PE ratio of 60.72, a PEG ratio of 1.75 and a beta of 2.15.
In other news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $34.74, for a total value of $1,459,080.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Scott K. Mcneill sold 25,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.05, for a total transaction of $926,250.00. Following the completion of the sale, the chief financial officer now owns 94,477 shares in the company, valued at $3,500,372.85. The disclosure for this sale can be found here. Insiders have sold 191,973 shares of company stock worth $6,861,844 over the last 90 days. 15.00% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of RSP Permian by 11.8% in the second quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock valued at $321,513,000 after purchasing an additional 1,054,281 shares during the last quarter. Boston Partners grew its position in shares of RSP Permian by 0.9% in the third quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock valued at $254,606,000 after purchasing an additional 69,145 shares during the last quarter. FMR LLC grew its position in shares of RSP Permian by 5.9% in the second quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after purchasing an additional 300,249 shares during the last quarter. Third Point LLC grew its position in shares of RSP Permian by 19.5% in the third quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock valued at $159,114,000 after purchasing an additional 750,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in shares of RSP Permian by 38.3% in the second quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after purchasing an additional 1,073,137 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.
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.
