Brokers Set Expectations for RSP Permian, Inc.’s FY2017 Earnings (RSPP)

RSP Permian, Inc. (NYSE:RSPP) – Equities research analysts at Jefferies Group upped their FY2017 earnings per share estimates for RSP Permian in a note issued to investors on Monday. Jefferies Group analyst M. Hsu now forecasts that the oil and natural gas company will earn $0.76 per share for the year, up from their previous estimate of $0.74. Jefferies Group has a “Buy” rating and a $47.00 price target on the stock. Jefferies Group also issued estimates for RSP Permian’s Q4 2017 earnings at $0.25 EPS, Q1 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.50 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.66 EPS and FY2019 earnings at $2.53 EPS.

RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. The company had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The firm’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share.

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RSPP has been the topic of a number of other research reports. BMO Capital Markets set a $46.00 price objective on RSP Permian and gave the stock a “buy” rating in a research note on Tuesday. ValuEngine lowered RSP Permian from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Barclays PLC raised their price objective on RSP Permian from $38.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Piper Jaffray Companies reduced their target price on RSP Permian from $49.00 to $37.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Finally, Bank of America Corporation assumed coverage on RSP Permian in a report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $46.88.

RSP Permian (NYSE:RSPP) opened at $35.79 on Tuesday. RSP Permian has a 52 week low of $28.76 and a 52 week high of $46.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $5,720.68, a price-to-earnings ratio of 59.13, a price-to-earnings-growth ratio of 1.80 and a beta of 2.15.

In other news, CEO Steven D. Gray bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $29.99 per share, with a total value of $299,900.00. Following the transaction, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James E. Mutrie sold 12,447 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $31.47, for a total value of $391,707.09. Following the completion of the sale, the vice president now directly owns 38,005 shares of the company’s stock, valued at $1,196,017.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,447 shares of company stock valued at $4,525,137. Corporate insiders own 15.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in RSP Permian by 11.8% during the 2nd quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock valued at $321,513,000 after purchasing an additional 1,054,281 shares during the last quarter. Boston Partners boosted its stake in RSP Permian by 0.9% during the 3rd quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock valued at $254,606,000 after purchasing an additional 69,145 shares during the last quarter. FMR LLC boosted its stake in RSP Permian by 5.9% during the 2nd quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after purchasing an additional 300,249 shares during the last quarter. Third Point LLC boosted its stake in RSP Permian by 19.5% during the 3rd quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock valued at $159,114,000 after purchasing an additional 750,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in RSP Permian by 38.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after purchasing an additional 1,073,137 shares during the last quarter. 87.02% of the stock is owned by institutional investors and hedge funds.

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.

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