Seaport Global Securities lowered shares of RSP Permian (NYSE:RSPP) from a buy rating to a hold rating in a research note published on Tuesday morning. Seaport Global Securities also issued estimates for RSP Permian’s Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.59 EPS, FY2018 earnings at $2.16 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.71 EPS and FY2019 earnings at $2.57 EPS.
Several other research analysts have also weighed in on RSPP. Royal Bank of Canada lowered 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. Zacks Investment Research downgraded shares of RSP Permian from a strong-buy rating to a hold rating in a research note on Wednesday, February 21st. Jefferies Group set a $51.00 price target on shares of RSP Permian and gave the stock a buy rating in a research note on Monday, March 19th. Credit Suisse Group set a $51.00 price target on shares of RSP Permian and gave the stock a buy rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $46.00 price target (up previously from $45.00) on shares of RSP Permian in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $50.41.
Shares of RSPP opened at $41.47 on Tuesday. RSP Permian has a 1-year low of $28.76 and a 1-year high of $47.17. The firm has a market capitalization of $6,948.46, a P/E ratio of 50.57, a P/E/G ratio of 0.59 and a beta of 1.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%. The firm had revenue of $249.02 million during the quarter, compared to analysts’ expectations of $246.71 million. sell-side analysts predict that RSP Permian will post 2.23 earnings per share for the current fiscal year.
In other news, insider Wallace Family Partnership, Lp sold 29,877 shares of RSP Permian stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $42.58, for a total value of $1,272,162.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 125,000 shares of company stock valued at $5,584,918. 15.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund increased its holdings in RSP Permian by 14.4% in the 3rd quarter. New York State Common Retirement Fund now owns 628,522 shares of the oil and natural gas company’s stock valued at $21,741,000 after buying an additional 79,203 shares during the period. Bank of New York Mellon Corp lifted its position in RSP Permian by 6.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 714,159 shares of the oil and natural gas company’s stock worth $24,702,000 after buying an additional 44,635 shares in the last quarter. Russell Investments Group Ltd. lifted its position in RSP Permian by 31.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 280,531 shares of the oil and natural gas company’s stock valued at $9,703,000 after purchasing an additional 66,601 shares during the period. Ameriprise Financial Inc. lifted its position in RSP Permian by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 805,063 shares of the oil and natural gas company’s stock valued at $27,845,000 after purchasing an additional 154,266 shares during the period. Finally, Legal & General Group Plc lifted its position in RSP Permian by 21.3% during the 3rd quarter. Legal & General Group Plc now owns 58,735 shares of the oil and natural gas company’s stock valued at $2,032,000 after purchasing an additional 10,325 shares during the period. 90.66% of the stock is currently owned by institutional investors and hedge funds.
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About RSP Permian
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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