Analysts forecast that RSP Permian (NYSE:RSPP) will announce $277.33 million in sales for the current quarter, according to Zacks. Eleven analysts have provided estimates for RSP Permian’s earnings, with the lowest sales estimate coming in at $255.42 million and the highest estimate coming in at $300.10 million. RSP Permian reported sales of $169.93 million during the same quarter last year, which indicates a positive year over year growth rate of 63.2%. The firm is expected to report its next earnings results on Tuesday, May 1st.
On average, analysts expect that RSP Permian will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.13 billion to $1.38 billion. For the next financial year, analysts forecast that the business will report sales of $1.58 billion per share, with estimates ranging from $1.41 billion to $1.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover RSP Permian.
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 (EPS) for the quarter, topping the 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.
A number of equities research analysts recently weighed in on the stock. Roth Capital lowered shares of RSP Permian from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a report on Monday. Royal Bank of Canada reaffirmed a “hold” rating and set a $53.00 price target on shares of RSP Permian in a report on Friday, April 13th. Stifel Nicolaus lowered shares of RSP Permian from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a report on Monday, April 9th. ValuEngine lowered shares of RSP Permian from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Finally, Seaport Global Securities lowered shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Tuesday, April 3rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $50.43.
In other news, insider Wallace Family Partnership, Lp sold 62,500 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this hyperlink. 15.00% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of RSPP. Legal & General Group Plc lifted its position in shares of RSP Permian by 21.3% in the 3rd quarter. Legal & General Group Plc now owns 58,735 shares of the oil and natural gas company’s stock worth $2,032,000 after buying an additional 10,325 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of RSP Permian by 13.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 513,822 shares of the oil and natural gas company’s stock worth $17,774,000 after buying an additional 62,595 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RSP Permian by 15.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,716,237 shares of the oil and natural gas company’s stock worth $93,954,000 after buying an additional 369,400 shares during the last quarter. Royce & Associates LP lifted its position in shares of RSP Permian by 8.3% in the 3rd quarter. Royce & Associates LP now owns 190,600 shares of the oil and natural gas company’s stock worth $6,593,000 after buying an additional 14,600 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of RSP Permian by 13.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 82,442 shares of the oil and natural gas company’s stock worth $2,847,000 after buying an additional 9,604 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.
RSPP traded up $1.24 during trading hours on Friday, reaching $49.13. 2,638,071 shares of the stock traded hands, compared to its average volume of 3,622,707. The firm has a market cap of $7,622.89, a price-to-earnings ratio of 57.60, a PEG ratio of 0.64 and a beta of 1.67. RSP Permian has a fifty-two week low of $28.76 and a fifty-two week high of $49.26. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.35.
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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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