Piper Jaffray Companies reiterated their buy rating on shares of RSP Permian (NYSE:RSPP) in a research report report published on Tuesday morning. They currently have a $50.00 target price on the oil and natural gas company’s stock.
RSPP has been the topic of several other research reports. Royal Bank of Canada boosted their target price on RSP Permian from $43.00 to $45.00 and gave the company an outperform rating in a research note on Monday, November 13th. Barclays boosted their target price on RSP Permian from $38.00 to $45.00 and gave the company an overweight rating in a research note on Wednesday, October 11th. Northland Securities reaffirmed a buy rating and set a $52.00 price target on shares of RSP Permian in a research report on Wednesday, November 1st. Zacks Investment Research raised RSP Permian from a hold rating to a buy rating and set a $40.00 price target on the stock in a research report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a buy rating and set a $47.00 price target on shares of RSP Permian in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $46.32.
RSP Permian (NYSE RSPP) traded up $0.07 during midday trading on Tuesday, reaching $42.09. The company’s stock had a trading volume of 1,275,449 shares, compared to its average volume of 2,000,278. The company has a market cap of $6,680.00, a PE ratio of 70.15, a price-to-earnings-growth ratio of 1.03 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.84. RSP Permian has a 12-month low of $28.76 and a 12-month high of $44.11.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $201.34 million. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The business’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. sell-side analysts forecast that RSP Permian will post 0.81 earnings per share for the current fiscal year.
In related news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $35.61, for a total transaction of $1,495,620.00. Following the transaction, the director now directly owns 8,052,851 shares of the company’s stock, valued at approximately $286,762,024.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wallace Family Partnership, Lp sold 32,623 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $42.52, for a total value of $1,387,129.96. The disclosure for this sale can be found here. Insiders have sold a total of 203,596 shares of company stock worth $7,801,254 over the last three months. 15.00% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC increased its holdings in shares of RSP Permian by 0.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock worth $1,905,000 after acquiring an additional 498 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after acquiring an additional 1,705 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of RSP Permian by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 22,808 shares of the oil and natural gas company’s stock worth $789,000 after acquiring an additional 2,345 shares during the last quarter. Voya Investment Management LLC grew its holdings in RSP Permian by 5.9% in the 2nd quarter. Voya Investment Management LLC now owns 43,784 shares of the oil and natural gas company’s stock valued at $1,413,000 after buying an additional 2,420 shares in the last quarter. Finally, QCM Cayman Ltd. grew its holdings in RSP Permian by 29.8% in the 2nd quarter. QCM Cayman Ltd. now owns 11,710 shares of the oil and natural gas company’s stock valued at $378,000 after buying an additional 2,687 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.
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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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