RSP Permian Inc (NYSE:RSPP) – Equities research analysts at Seaport Global Securities increased their Q4 2017 earnings estimates for RSP Permian in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will earn $0.29 per share for the quarter, up from their prior forecast of $0.15. Seaport Global Securities also issued estimates for RSP Permian’s Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.47 EPS and FY2018 earnings at $1.82 EPS.
Several other equities research analysts have also issued reports on RSPP. BidaskClub upgraded shares of RSP Permian from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Piper Jaffray Companies lowered their price target on shares of RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Northland Securities reiterated a “buy” rating and issued a $52.00 price target on shares of RSP Permian in a research note on Tuesday, September 26th. Stifel Nicolaus set a $43.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Jefferies Group reiterated a “buy” rating and issued a $47.00 price target on shares of RSP Permian in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.32.
Shares of RSP Permian (NYSE RSPP) traded up $0.07 during mid-day trading on Thursday, reaching $42.09. 1,280,969 shares of the company’s stock traded hands, compared to its average volume of 1,840,000. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. RSP Permian has a 12-month low of $28.76 and a 12-month high of $44.11. The firm has a market cap of $6,680.00, a price-to-earnings ratio of 70.15, a P/E/G ratio of 1.05 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 (EPS) for the quarter, meeting the consensus estimate of $0.18. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The firm had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. During the same period in the previous year, the business earned ($0.01) EPS. The company’s revenue was up 115.5% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of RSP Permian by 11.8% during the 2nd 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 boosted its holdings in shares of RSP Permian by 0.9% during the 3rd 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 boosted its holdings in shares of RSP Permian by 5.9% during the 2nd 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 boosted its holdings in shares of RSP Permian by 19.5% during the 3rd 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. boosted its holdings in shares of RSP Permian by 38.3% during the 2nd 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. 86.19% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Scott K. Mcneill sold 25,000 shares of RSP Permian stock in a transaction dated Monday, December 11th. The shares were 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 of the company’s stock, valued at approximately $3,500,372.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wallace Family Partnership, Lp sold 32,623 shares of RSP Permian stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $42.52, for a total transaction of $1,387,129.96. The disclosure for this sale can be found here. In the last three months, insiders sold 203,596 shares of company stock valued at $7,801,254. Insiders own 15.00% of the company’s stock.
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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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