RSP Permian (NYSE:RSPP)‘s stock had its “buy” rating reaffirmed by equities researchers at Piper Jaffray Companies in a report released on Tuesday. They presently have a $50.00 price target on the oil and natural gas company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 18.99% from the company’s current price.
RSPP has been the subject of several other research reports. Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price objective (up previously from $45.00) on shares of RSP Permian in a research note on Tuesday, December 19th. BMO Capital Markets set a $46.00 price objective on shares of RSP Permian and gave the company a “buy” rating in a research note on Tuesday, November 14th. Barclays increased their price objective on shares of RSP Permian from $38.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Scotiabank reissued a “buy” rating and issued a $43.00 price objective on shares of RSP Permian in a research note on Wednesday, November 22nd. Finally, Robert W. Baird assumed coverage on shares of RSP Permian in a research note on Tuesday, December 19th. They issued an “outperform” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.09.
Shares of RSP Permian (RSPP) traded up $1.28 during trading on Tuesday, hitting $42.02. 2,810,000 shares of the stock were exchanged, compared to its average volume of 1,790,000. RSP Permian has a 12 month low of $28.76 and a 12 month high of $44.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $6,660.00, a P/E ratio of 70.03, a PEG ratio of 1.03 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The company had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 115.5% on a year-over-year basis. equities analysts predict that RSP Permian will post 0.81 earnings per share for the current year.
In other news, VP Erik B. Daugbjerg sold 19,973 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.27, for a total transaction of $744,393.71. Following the completion of the sale, the vice president now directly owns 203,598 shares in the company, valued at $7,588,097.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $35.61, for a total transaction of $1,495,620.00. Following the sale, the director now owns 8,052,851 shares of the company’s stock, valued at $286,762,024.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 170,973 shares of company stock valued at $6,414,124. Corporate insiders own 15.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of RSP Permian by 11.8% during the second quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock worth $321,513,000 after buying an additional 1,054,281 shares during the period. Boston Partners increased its position in shares of RSP Permian by 0.9% during the third quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock worth $254,606,000 after buying an additional 69,145 shares during the period. FMR LLC increased its position in shares of RSP Permian by 5.9% during the second quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock worth $175,023,000 after buying an additional 300,249 shares during the period. Third Point LLC increased its position in shares of RSP Permian by 19.5% during the third quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock worth $159,114,000 after buying an additional 750,000 shares during the period. Finally, Westwood Holdings Group Inc. increased its position in shares of RSP Permian by 38.3% during the second quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock worth $125,102,000 after buying an additional 1,073,137 shares during the period. Institutional investors own 86.19% of the company’s stock.
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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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