RSP Permian, Inc. (RSPP) Price Target Raised to $46.00 at Morgan Stanley

RSP Permian, Inc. (NYSE:RSPP) had its price target boosted by Morgan Stanley from $41.00 to $46.00 in a report published on Wednesday morning. They currently have an overweight rating on the oil and natural gas company’s stock.

Several other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada reiterated a buy rating and issued a $44.00 price objective on shares of RSP Permian in a research note on Thursday, July 20th. Zacks Investment Research cut shares of RSP Permian from a hold rating to a sell rating in a research note on Wednesday, July 19th. Bank of America Corporation initiated coverage on shares of RSP Permian in a research note on Wednesday, July 19th. They issued a buy rating and a $45.00 price objective on the stock. ValuEngine cut shares of RSP Permian from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Northland Securities set a $52.00 target price on shares of RSP Permian and gave the stock a buy rating in a research note on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian currently has an average rating of Buy and a consensus price target of $46.83.

Shares of RSP Permian (NYSE RSPP) opened at 33.55 on Wednesday. RSP Permian has a 52-week low of $28.76 and a 52-week high of $46.92. The stock has a 50 day moving average of $32.96 and a 200 day moving average of $34.56. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 61.90 and a beta of 2.17.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm had revenue of $183.10 million for the quarter, compared to analysts’ expectations of $185.01 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s quarterly revenue was up 124.7% on a year-over-year basis. On average, equities research analysts expect that RSP Permian will post $0.76 EPS for the current year.

TRADEMARK VIOLATION WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://ledgergazette.com/2017/10/22/rsp-permian-inc-rspp-price-target-raised-to-46-00-at-morgan-stanley.html.

In related news, Director Ted Collins, Jr. sold 21,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $34.78, for a total value of $730,380.00. Following the completion of the transaction, the director now directly owns 8,094,851 shares of the company’s stock, valued at $281,538,917.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Zane W. Arrott sold 47,113 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the completion of the transaction, the chief operating officer now directly owns 86,614 shares of the company’s stock, valued at $2,710,152.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 248,560 shares of company stock valued at $8,060,453. 15.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its stake in RSP Permian by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 60,660 shares of the oil and natural gas company’s stock worth $2,098,000 after buying an additional 1,632 shares during the period. Sentry Investment Management LLC purchased a new position in RSP Permian during the second quarter worth $210,000. Dynamic Technology Lab Private L

Several other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada reiterated a buy rating and issued a $44.00 price objective on shares of RSP Permian in a research note on Thursday, July 20th. Zacks Investment Research cut shares of RSP Permian from a hold rating to a sell rating in a research note on Wednesday, July 19th. Bank of America Corporation initiated coverage on shares of RSP Permian in a research note on Wednesday, July 19th. They issued a buy rating and a $45.00 price objective on the stock. ValuEngine cut shares of RSP Permian from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Northland Securities set a $52.00 target price on shares of RSP Permian and gave the stock a buy rating in a research note on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian currently has an average rating of Buy and a consensus price target of $46.83.

Shares of RSP Permian (NYSE RSPP) opened at 33.55 on Wednesday. RSP Permian has a 52-week low of $28.76 and a 52-week high of $46.92. The stock has a 50 day moving average of $32.96 and a 200 day moving average of $34.56. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 61.90 and a beta of 2.17.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm had revenue of $183.10 million for the quarter, compared to analysts’ expectations of $185.01 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s quarterly revenue was up 124.7% on a year-over-year basis. On average, equities research analysts expect that RSP Permian will post $0.76 EPS for the current year.

TRADEMARK VIOLATION WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://ledgergazette.com/2017/10/22/rsp-permian-inc-rspp-price-target-raised-to-46-00-at-morgan-stanley.html.

In related news, Director Ted Collins, Jr. sold 21,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $34.78, for a total value of $730,380.00. Following the completion of the transaction, the director now directly owns 8,094,851 shares of the company’s stock, valued at $281,538,917.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Zane W. Arrott sold 47,113 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the completion of the transaction, the chief operating officer now directly owns 86,614 shares of the company’s stock, valued at $2,710,152.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 248,560 shares of company stock valued at $8,060,453. 15.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its stake in RSP Permian by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 60,660 shares of the oil and natural gas company’s stock worth $2,098,000 after buying an additional 1,632 shares during the period. Sentry Investment Management LLC purchased a new position in RSP Permian during the second quarter worth $210,000. Dynamic Technology Lab Private Ltd purchased a new position in RSP Permian during the second quarter worth $1,003,000. Public Employees Retirement System of Ohio purchased a new position in RSP Permian during the second quarter worth $1,892,000. Finally, Verition Fund Management LLC purchased a new position in RSP Permian during the second quarter worth $310,000. 86.57% of the stock is owned by institutional investors.

RSP Permian Company Profile

RSP Permian, Inc is an independent oil and natural gas company. The Company is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The Company’s properties are located on contiguous acreage blocks in the Midland Basin, and the Delaware Basin, both sub-basins of the Permian Basin.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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