RSP Permian (RSPP) Trading Down 5.2%

RSP Permian Inc (NYSE:RSPP)’s share price fell 5.2% on Thursday . The company traded as low as $39.39 and last traded at $39.59. 1,525,600 shares were traded during mid-day trading, a decline of 48% from the average session volume of 2,940,097 shares. The stock had previously closed at $41.78.

A number of brokerages have weighed in on RSPP. Northland Securities lowered shares of RSP Permian from an “outperform” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Thursday, March 29th. Jefferies Financial Group lowered shares of RSP Permian from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, March 29th. Goldman Sachs Group lowered shares of RSP Permian from a “conviction-buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Thursday, March 29th. Raymond James reiterated a “market perform” rating on shares of RSP Permian in a report on Monday, April 2nd. Finally, Stifel Nicolaus lowered shares of RSP Permian from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a report on Monday, April 9th. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $51.86.

The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 49.45, a price-to-earnings-growth ratio of 0.51 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 0.77.

RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. RSP Permian had a net margin of 31.07% and a return on equity of 4.30%. The firm had revenue of $276.32 million for the quarter, compared to the consensus estimate of $279.97 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 62.6% on a year-over-year basis. research analysts forecast that RSP Permian Inc will post 2.32 earnings per share for the current year.

In related news, insider Wallace Family Partnership, Lp sold 62,500 shares of RSP Permian stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $48.95, for a total transaction of $3,059,375.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 15.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new stake in RSP Permian during the 4th quarter worth $26,158,000. Virtu Financial LLC bought a new stake in shares of RSP Permian in the 4th quarter worth about $681,000. Swiss National Bank increased its position in shares of RSP Permian by 2.1% in the 4th quarter. Swiss National Bank now owns 202,591 shares of the oil and natural gas company’s stock worth $8,241,000 after purchasing an additional 4,100 shares during the last quarter. Folger Hill Asset Management LP increased its position in shares of RSP Permian by 28.6% in the 4th quarter. Folger Hill Asset Management LP now owns 367,100 shares of the oil and natural gas company’s stock worth $14,934,000 after purchasing an additional 81,600 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of RSP Permian in the 4th quarter worth about $1,412,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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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