BMO Capital Markets set a $46.00 price objective on RSP Permian, Inc. (NYSE:RSPP) in a report issued on Tuesday. The firm currently has a buy rating on the oil and natural gas company’s stock.
A number of other equities research analysts have also weighed in on RSPP. Northland Securities set a $52.00 target price on shares of RSP Permian and gave the stock a buy rating in a report on Monday, July 17th. Zacks Investment Research downgraded shares of RSP Permian from a hold rating to a sell rating in a research report on Wednesday, July 19th. Bank of America Corporation began coverage on shares of RSP Permian in a report on Wednesday, July 19th. They issued a buy rating and a $45.00 price objective for the company. Royal Bank Of Canada reaffirmed a buy rating and issued a $44.00 price objective on shares of RSP Permian in a report on Thursday, July 20th. Finally, Roth Capital cut their price objective on shares of RSP Permian from $64.50 to $44.00 and set a buy rating for the company in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $46.88.
Shares of RSP Permian (NYSE:RSPP) traded up $0.48 during mid-day trading on Tuesday, reaching $36.11. 1,433,646 shares of the company’s stock traded hands, compared to its average volume of 2,064,309. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.84. RSP Permian has a 1 year low of $28.76 and a 1 year high of $46.92. The firm has a market capitalization of $5,720.68, a P/E ratio of 59.13, a PEG ratio of 1.80 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The company’s revenue was up 115.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. research analysts forecast that RSP Permian will post 0.77 earnings per share for the current fiscal year.
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In related news, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $35.61, for a total value of $1,495,620.00. Following the transaction, the director now owns 8,052,851 shares in the company, valued at approximately $286,762,024.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven D. Gray bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the transaction, the chief executive officer now owns 311,688 shares in the company, valued at $9,347,523.12. The disclosure for this purchase can be found here. In the last quarter, insiders sold 180,447 shares of company stock worth $6,020,757. 15.00% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Eagle Asset Management Inc. grew its holdings in RSP Permian by 8.1% in the 2nd 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 last quarter. Victory Capital Management Inc. boosted its stake in shares of RSP Permian by 49.2% during the 2nd 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 purchasing an additional 400,254 shares in the last quarter. Cipher Capital LP boosted its stake in shares of RSP Permian by 54.7% during the 2nd quarter. Cipher Capital LP now owns 82,238 shares of the oil and natural gas company’s stock valued at $2,654,000 after purchasing an additional 29,094 shares in the last quarter. Capital Advisors Inc. OK bought a new stake in shares of RSP Permian during the 2nd quarter valued at about $7,907,000. Finally, Rhumbline Advisers boosted its stake in shares of RSP Permian by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 134,423 shares of the oil and natural gas company’s stock valued at $4,338,000 after purchasing an additional 6,870 shares in the last quarter. 87.02% of the stock is currently owned by institutional investors and hedge funds.
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.
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