RSP Permian (NYSE:RSPP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, January 23rd. The firm currently has a $46.00 price target on the oil and natural gas company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 27.92% from the stock’s current price.
According to Zacks, “RSP Permian, Inc. is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves primarily in the Permian Basin of West Texas. RSP Permian, Inc. is based in Dallas, United States. “
Several other research analysts have also recently weighed in on RSPP. Stifel Nicolaus set a $43.00 price objective on RSP Permian and gave the stock a “buy” rating in a research report on Thursday, October 5th. Scotiabank reaffirmed a “buy” rating and set a $43.00 price target on shares of RSP Permian in a research report on Wednesday, November 22nd. Credit Suisse Group initiated coverage on RSP Permian in a research report on Monday, December 11th. They set an “outperform” rating and a $44.00 price target on the stock. Robert W. Baird initiated coverage on RSP Permian in a research report on Tuesday, December 19th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $51.00 price target on shares of RSP Permian in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. RSP Permian has a consensus rating of “Buy” and an average target price of $47.93.
RSP Permian (NYSE:RSPP) traded up $1.74 during midday trading on Tuesday, hitting $35.96. The stock had a trading volume of 2,420,000 shares, compared to its average volume of 2,380,000. The company has a market capitalization of $5,700.00, a P/E ratio of 59.93, a price-to-earnings-growth ratio of 0.49 and a beta of 1.97. RSP Permian has a 52-week low of $28.76 and a 52-week high of $44.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.
In related news, VP Erik B. Daugbjerg sold 19,973 shares of the stock in a transaction dated Monday, December 4th. The stock was 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 approximately $7,588,097.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction dated 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 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. Insiders sold a total of 233,473 shares of company stock worth $9,073,416 over the last 90 days. Corporate insiders own 15.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. American International Group Inc. purchased a new stake in RSP Permian during the 4th quarter valued at about $119,000. Cerebellum GP LLC purchased a new stake in RSP Permian during the 4th quarter valued at about $130,000. BNP Paribas Arbitrage SA boosted its holdings in RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after acquiring an additional 1,705 shares during the period. Cadence Capital Management LLC purchased a new stake in RSP Permian during the 4th quarter valued at about $206,000. Finally, CIBC Asset Management Inc purchased a new stake in RSP Permian during the 4th quarter valued at about $217,000. Institutional investors own 87.01% 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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