RSP Permian Inc (RSPP) Receives $52.37 Average PT from Analysts

RSP Permian Inc (NYSE:RSPP) has been given an average rating of “Buy” by the twenty-eight analysts that are covering the firm, MarketBeat reports. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $52.37.

A number of research analysts have commented on the company. ValuEngine upgraded RSP Permian from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus set a $48.00 price target on RSP Permian and gave the stock a “hold” rating in a research note on Tuesday, April 24th. Stephens set a $69.00 price target on RSP Permian and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Seaport Global Securities cut RSP Permian from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 24th. Finally, Roth Capital cut RSP Permian from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research note on Monday, April 16th.

RSP Permian traded down $0.07, reaching $43.40, during trading hours on Monday, MarketBeat reports. 5,650 shares of the stock were exchanged, compared to its average volume of 1,495,677. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. RSP Permian has a twelve month low of $28.76 and a twelve month high of $51.51. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 0.56 and a beta of 1.61.

RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. RSP Permian had a return on equity of 4.30% and a net margin of 31.07%. The company had revenue of $276.32 million for the quarter, compared to analysts’ expectations of $279.97 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue was up 62.6% compared to the same quarter last year. sell-side analysts expect that RSP Permian will post 2.32 EPS for the current fiscal year.

In other news, insider Wallace Family Partnership, Lp sold 62,500 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $48.95, for a total value of $3,059,375.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC increased its holdings in RSP Permian by 8.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 5,522,496 shares of the oil and natural gas company’s stock valued at $224,655,000 after buying an additional 419,316 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in RSP Permian by 7.4% in the first quarter. Eagle Asset Management Inc. now owns 4,869,239 shares of the oil and natural gas company’s stock valued at $228,269,000 after buying an additional 334,565 shares during the last quarter. Millennium Management LLC increased its holdings in RSP Permian by 97.9% in the fourth quarter. Millennium Management LLC now owns 4,529,224 shares of the oil and natural gas company’s stock valued at $184,249,000 after buying an additional 2,240,454 shares during the last quarter. Teachers Advisors LLC increased its holdings in RSP Permian by 21.8% in the fourth quarter. Teachers Advisors LLC now owns 3,632,271 shares of the oil and natural gas company’s stock valued at $147,761,000 after buying an additional 650,443 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in RSP Permian by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,482,243 shares of the oil and natural gas company’s stock valued at $163,248,000 after buying an additional 242,258 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

About RSP Permian

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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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