RSP Permian, Inc. (NYSE:RSPP) has been assigned a $42.00 price target by stock analysts at BMO Capital Markets in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. BMO Capital Markets’ price target indicates a potential upside of 29.79% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Barclays PLC reaffirmed an “overweight” rating and issued a $44.00 target price on shares of RSP Permian in a research report on Wednesday, April 26th. Royal Bank Of Canada set a $51.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Scotiabank set a $43.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research cut shares of RSP Permian from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $44.00 target price (down from $51.00) on shares of RSP Permian in a research report on Thursday, May 4th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.58.
RSP Permian (RSPP) opened at 32.36 on Tuesday. The stock’s 50 day moving average is $32.75 and its 200 day moving average is $37.55. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 59.70 and a beta of 2.13. RSP Permian has a one year low of $29.67 and a one year high of $46.92.
RSP Permian (NYSE:RSPP) last posted its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. During the same period last year, the company posted ($0.04) EPS. The company’s quarterly revenue was up 124.7% compared to the same quarter last year. On average, analysts predict that RSP Permian will post $0.72 earnings per share for the current fiscal year.
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In other news, major shareholder Richard A. Kayne sold 17,250,000 shares of RSP Permian stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total value of $668,955,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $32.65, for a total transaction of $685,650.00. Following the completion of the sale, the director now owns 8,178,851 shares of the company’s stock, valued at $267,039,485.15. The disclosure for this sale can be found here. Insiders sold 17,418,000 shares of company stock valued at $674,492,280 over the last quarter. Company insiders own 15.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Creative Planning raised its stake in shares of RSP Permian by 1,642.6% in the first quarter. Creative Planning now owns 13,139 shares of the oil and natural gas company’s stock worth $544,000 after buying an additional 12,385 shares in the last quarter. E&G Advisors LP raised its stake in shares of RSP Permian by 17.1% in the first quarter. E&G Advisors LP now owns 13,700 shares of the oil and natural gas company’s stock worth $568,000 after buying an additional 2,000 shares in the last quarter. Bank of Montreal Can raised its stake in shares of RSP Permian by 12.3% in the first quarter. Bank of Montreal Can now owns 150,694 shares of the oil and natural gas company’s stock worth $6,243,000 after buying an additional 16,547 shares in the last quarter. Quantitative Systematic Strategies LLC raised its stake in shares of RSP Permian by 62.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 44,907 shares of the oil and natural gas company’s stock worth $1,860,000 after buying an additional 17,253 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of RSP Permian by 3.2% in the first quarter. Nationwide Fund Advisors now owns 88,767 shares of the oil and natural gas company’s stock worth $3,678,000 after buying an additional 2,748 shares in the last quarter. Hedge funds and other institutional investors own 77.43% 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.
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