BMO Capital Markets reiterated their buy rating on shares of RSP Permian (NYSE:RSPP) in a research note released on Thursday morning. BMO Capital Markets currently has a $51.00 price objective on the oil and natural gas company’s stock.
Several other analysts have also recently commented on RSPP. Piper Jaffray Companies reissued a buy rating and issued a $50.00 price target on shares of RSP Permian in a report on Tuesday, January 9th. Northland Securities reissued a buy rating and issued a $52.00 price target on shares of RSP Permian in a report on Tuesday, September 26th. Jefferies Group reaffirmed a buy rating and set a $47.00 price objective on shares of RSP Permian in a report on Tuesday, October 10th. BidaskClub raised RSP Permian from a strong sell rating to a sell rating in a report on Friday, September 15th. Finally, Barclays lifted their price objective on RSP Permian from $38.00 to $45.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $46.32.
RSP Permian (RSPP) traded up $0.07 on Thursday, hitting $42.09. The stock had a trading volume of 1,280,969 shares, compared to its average volume of 2,000,278. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6,680.00, a PE ratio of 70.15, a P/E/G ratio of 1.05 and a beta of 2.15. RSP Permian has a 1-year low of $28.76 and a 1-year high of $44.11.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $201.70 million during 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 company’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. sell-side analysts expect that RSP Permian will post 0.81 EPS for the current fiscal year.
In other news, insider Wallace Family Partnership, Lp sold 32,623 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $35.61, for a total value of $1,495,620.00. Following the completion of the transaction, the director now directly owns 8,052,851 shares of the company’s stock, valued at $286,762,024.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,596 shares of company stock valued at $7,801,254. Insiders own 15.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSPP. Third Point LLC raised its holdings in shares of RSP Permian by 92.5% in the second quarter. Third Point LLC now owns 3,850,000 shares of the oil and natural gas company’s stock worth $124,240,000 after acquiring an additional 1,850,000 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of RSP Permian by 208.1% in the third quarter. Alyeska Investment Group L.P. now owns 2,015,071 shares of the oil and natural gas company’s stock valued at $69,701,000 after purchasing an additional 1,361,049 shares during the period. Westwood Holdings Group Inc. grew its position in shares of RSP Permian by 38.3% in the second 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 period. Vanguard Group Inc. grew its position in shares of RSP Permian by 11.8% in the second 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 period. Finally, JPMorgan Chase & Co. grew its position in shares of RSP Permian by 163.2% in the third quarter. JPMorgan Chase & Co. now owns 1,322,262 shares of the oil and natural gas company’s stock valued at $45,632,000 after purchasing an additional 819,846 shares during the period. 86.19% 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.
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