Stifel Nicolaus reiterated their buy rating on shares of RSP Permian, Inc. (NYSE:RSPP) in a research note released on Friday, July 14th. They currently have a $41.00 price target on the oil and natural gas company’s stock.
A number of other equities research analysts also recently issued reports on RSPP. UBS AG upgraded shares of RSP Permian from a neutral rating to a buy rating and boosted their target price for the company from $45.00 to $53.00 in a report on Thursday, March 23rd. Scotiabank set a $51.00 target price on shares of RSP Permian and gave the company a buy rating in a report on Monday, March 27th. Zacks Investment Research downgraded shares of RSP Permian from a buy rating to a hold rating in a report on Saturday, April 8th. Goldman Sachs Group, Inc. (The) upgraded shares of RSP Permian from a neutral rating to a buy rating and set a $63.00 price objective for the company in a research note on Tuesday, April 11th. Finally, BMO Capital Markets reiterated a buy rating and set a $50.00 price objective on shares of RSP Permian in a research note on Wednesday, April 12th. 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 assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $46.73.
Shares of RSP Permian (RSPP) opened at 32.36 on Friday. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 59.70 and a beta of 2.13. The stock has a 50 day moving average price of $32.75 and a 200-day moving average price of $37.55. RSP Permian has a 1-year low of $29.67 and a 1-year high of $46.92.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company’s quarterly revenue was up 124.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. Equities research analysts forecast that RSP Permian will post $0.72 earnings per share for the current year.
In other RSP Permian news, major shareholder Richard A. Kayne sold 17,250,000 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total transaction of $668,955,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $34.49, for a total transaction of $1,448,580.00. Following the sale, the director now directly owns 8,270,351 shares in the company, valued at $285,244,405.99. The disclosure for this sale can be found here. Insiders have sold 17,418,000 shares of company stock worth $674,492,280 over the last three months. 15.00% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its position in RSP Permian by 82.8% in the fourth quarter. Comerica Bank now owns 10,215 shares of the oil and natural gas company’s stock valued at $433,000 after buying an additional 4,627 shares in the last quarter. Guggenheim Capital LLC raised its position in RSP Permian by 3.3% in the fourth quarter. Guggenheim Capital LLC now owns 48,328 shares of the oil and natural gas company’s stock valued at $2,156,000 after buying an additional 1,558 shares in the last quarter. Norges Bank purchased a new position in RSP Permian during the fourth quarter valued at approximately $23,164,000. Quadrature Capital Ltd raised its position in RSP Permian by 74.8% in the fourth quarter. Quadrature Capital Ltd now owns 24,324 shares of the oil and natural gas company’s stock valued at $1,086,000 after buying an additional 10,410 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in RSP Permian during the fourth quarter valued at approximately $781,000. Institutional investors and hedge funds 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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