RSP Permian (NYSE:RSPP)‘s stock had its “buy” rating reiterated by equities researchers at Stephens in a report issued on Thursday, March 15th. They presently have a $53.00 price target on the oil and natural gas company’s stock. Stephens’ price target points to a potential upside of 27.80% from the company’s previous close.
RSPP has been the subject of several other reports. Zacks Investment Research lowered shares of RSP Permian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 price objective (up from $45.00) on shares of RSP Permian in a research report on Tuesday, December 19th. Credit Suisse Group set a $51.00 price objective on shares of RSP Permian and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Piper Jaffray reiterated a “buy” rating and issued a $50.00 price target on shares of RSP Permian in a report on Tuesday, January 9th. Finally, Royal Bank of Canada set a $50.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.41.
RSPP stock traded down $2.11 during mid-day trading on Thursday, reaching $41.47. 6,657,869 shares of the stock traded hands, compared to its average volume of 5,722,229. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.35. The stock 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 one year low of $28.76 and a one year high of $47.17.
RSP Permian (NYSE:RSPP) last released its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%. The company had revenue of $249.02 million during the quarter, compared to analyst estimates of $246.71 million. equities research analysts expect that RSP Permian will post 2.23 EPS for the current year.
In other news, insider Wallace Family Partnership, Lp sold 62,500 shares of the business’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $46.81, for a total transaction of $2,925,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 125,000 shares of company stock valued at $5,584,918. 15.00% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in RSPP. Hartree Partners LP lifted its stake in RSP Permian by 2.7% during the fourth quarter. Hartree Partners LP now owns 62,125 shares of the oil and natural gas company’s stock worth $2,527,000 after purchasing an additional 1,625 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in RSP Permian by 1.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 122,342 shares of the oil and natural gas company’s stock worth $4,977,000 after purchasing an additional 1,764 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in RSP Permian by 38.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,156 shares of the oil and natural gas company’s stock worth $291,000 after purchasing an additional 1,976 shares during the last quarter. Cambiar Investors LLC lifted its stake in RSP Permian by 2.5% during the fourth quarter. Cambiar Investors LLC now owns 96,949 shares of the oil and natural gas company’s stock worth $3,944,000 after purchasing an additional 2,344 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in RSP Permian by 11.5% during the third quarter. Pacer Advisors Inc. now owns 22,808 shares of the oil and natural gas company’s stock worth $789,000 after purchasing an additional 2,345 shares during the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.
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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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