RSP Permian (NYSE:RSPP) received a $48.00 price target from equities researchers at Jefferies Group in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Group’s price objective would suggest a potential upside of 26.38% from the company’s current price.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of RSP Permian from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Royal Bank of Canada increased their target price on shares of RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, November 13th. Barclays increased their target price on shares of RSP Permian from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 20th. Scotiabank reissued a “buy” rating and set a $43.00 target price on shares of RSP Permian in a research report on Wednesday, November 22nd. Finally, KeyCorp reissued a “buy” rating and set a $49.00 target price on shares of RSP Permian in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $45.74.
RSP Permian (NYSE:RSPP) traded up $0.94 during trading hours on Wednesday, reaching $37.98. 3,958,300 shares of the company were exchanged, compared to its average volume of 2,027,757. RSP Permian has a 12 month low of $28.76 and a 12 month high of $46.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $5,874.52, a PE ratio of 60.72, a price-to-earnings-growth ratio of 1.75 and a beta of 2.15.
In other news, Director Ted Collins, Jr. sold 21,000 shares of the stock in a transaction on Wednesday, October 4th. The shares were 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 in the company, valued at $281,538,917.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott K. Mcneill sold 25,000 shares of the stock in a transaction on Monday, December 11th. The stock was 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 approximately $3,500,372.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,973 shares of company stock valued at $6,861,844. Corporate insiders own 15.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its stake 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 worth $102,184,000 after acquiring an additional 236,985 shares during the period. Cipher Capital LP increased its stake in shares of RSP Permian by 54.7% in the second quarter. Cipher Capital LP now owns 82,238 shares of the oil and natural gas company’s stock worth $2,654,000 after acquiring an additional 29,094 shares during the period. Victory Capital Management Inc. grew its position in RSP Permian by 49.2% during 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. Capital Advisors Inc. OK acquired a new stake in RSP Permian during the second quarter valued at $7,907,000. Finally, Rhumbline Advisers grew its position in RSP Permian by 5.4% during the second quarter. Rhumbline Advisers now owns 134,423 shares of the oil and natural gas company’s stock valued at $4,338,000 after buying an additional 6,870 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.
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.
