Capital One Financial Corp. Begins Coverage on RSP Permian Inc. (RSPP)
Investment analysts at Capital One Financial Corp. initiated coverage on shares of RSP Permian Inc. (NYSE:RSPP) in a research report issued to clients and investors on Thursday. The brokerage set an “overweight” rating on the stock.
RSPP has been the subject of a number of other research reports. Wells Fargo & Co. started coverage on RSP Permian in a research report on Wednesday, August 24th. They issued an “outperform” rating and a $16.74 target price for the company. Nomura reissued a “buy” rating and issued a $17.00 target price on shares of RSP Permian in a research report on Monday, September 26th. Roth Capital reissued a “buy” rating on shares of RSP Permian in a research report on Tuesday, July 12th. FBR & Co started coverage on RSP Permian in a research report on Tuesday, September 13th. They issued an “outperform” rating for the company. Finally, Morgan Stanley started coverage on RSP Permian in a research report on Thursday, July 21st. They issued an “equal weight” rating and a $43.00 target price for the company. Seven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $37.03.
RSP Permian (NYSE:RSPP) opened at 39.83 on Thursday. The stock has a 50 day moving average of $38.41 and a 200-day moving average of $34.39. The company’s market capitalization is $4.05 billion. RSP Permian has a 52-week low of $16.74 and a 52-week high of $40.74.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. During the same quarter in the previous year, the business posted $0.16 EPS. RSP Permian’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that RSP Permian will post ($0.19) earnings per share for the current fiscal year.
In other RSP Permian news, Director Ted Collins, Jr. sold 21,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $33.77, for a total value of $709,170.00. Following the sale, the director now owns 8,590,088 shares in the company, valued at $290,087,271.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William Huck sold 6,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $38.76, for a total value of $232,560.00. Following the completion of the sale, the vice president now owns 387,837 shares in the company, valued at approximately $15,032,562.12. The disclosure for this sale can be found here. Corporate insiders own 23.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in RSPP. BOKF NA acquired a new stake in RSP Permian during the second quarter worth $102,000. BNP Paribas Arbitrage SA raised its stake in RSP Permian by 50,766.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,052 shares of the company’s stock worth $106,000 after buying an additional 3,046 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in RSP Permian by 3,330.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,459 shares of the company’s stock worth $156,000 after buying an additional 4,329 shares during the last quarter. Comerica Bank acquired a new stake in RSP Permian during the second quarter worth $205,000. Finally, Jane Street Group LLC acquired a new stake in RSP Permian during the second quarter worth $208,000. Institutional investors and hedge funds own 86.36% of the company’s stock.
RSP Permian Company Profile
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
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