RSP Permian (NYSE:RSPP) – Equities researchers at KeyCorp lowered their Q1 2018 EPS estimates for RSP Permian in a report issued on Wednesday, March 14th, according to Zacks Investment Research. KeyCorp analyst C. Stevens now expects that the oil and natural gas company will post earnings of $0.49 per share for the quarter, down from their prior estimate of $0.51. KeyCorp currently has a “Buy” rating and a $52.00 price objective on the stock. KeyCorp also issued estimates for RSP Permian’s FY2018 earnings at $2.40 EPS and FY2019 earnings at $3.69 EPS.
RSP Permian (NYSE:RSPP) last posted its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $249.02 million for the quarter, compared to the consensus estimate of $246.71 million. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%.
Other research analysts also recently issued research reports about the stock. Northland Securities downgraded shares of RSP Permian from an “outperform” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Thursday, March 29th. Raymond James Financial reissued a “market perform” rating on shares of RSP Permian in a research report on Monday, April 2nd. ValuEngine downgraded shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Group downgraded shares of RSP Permian from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, March 29th. Finally, Goldman Sachs downgraded shares of RSP Permian from a “conviction-buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Thursday, March 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $50.41.
NYSE RSPP traded down $2.11 during trading on Thursday, reaching $41.47. 6,657,869 shares of the company’s stock traded hands, compared to its average volume of 5,722,229. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $6,948.46, a price-to-earnings ratio of 50.57, a price-to-earnings-growth ratio of 0.59 and a beta of 1.67. RSP Permian has a 12-month low of $28.76 and a 12-month high of $47.17.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new stake in RSP Permian during the 4th quarter valued at approximately $119,000. Cerebellum GP LLC acquired a new stake in RSP Permian during the 4th quarter valued at approximately $130,000. Cadence Capital Management LLC acquired a new stake in RSP Permian during the 4th quarter valued at approximately $206,000. CIBC Asset Management Inc acquired a new stake in RSP Permian during the 4th quarter valued at approximately $217,000. Finally, Fieldpoint Private Securities LLC acquired a new stake in RSP Permian during the 3rd quarter valued at approximately $233,000. Institutional investors own 90.66% of the company’s stock.
In related news, insider Wallace Family Partnership, Lp sold 62,500 shares of RSP Permian stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $46.81, for a total value of $2,925,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 125,000 shares of company stock valued at $5,584,918 over the last quarter. 15.00% of the stock is owned by company insiders.
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RSP Permian Company Profile
RSP Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. It owns interest in contiguous acreage blocks in the core of the Midland Basin primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector, and Glasscock; and in Loving and Winkler counties of the Delaware Basin.
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