RSP Permian Inc. (RSPP) Price Target Increased to $51.00 by Analysts at Wunderlich
RSP Permian Inc. (NYSE:RSPP) had its price objective increased by equities researchers at Wunderlich from $44.00 to $51.00 in a report released on Monday. The brokerage currently has a “buy” rating on the stock. Wunderlich’s price objective would indicate a potential upside of 20.85% from the stock’s current price.
Several other analysts have also recently issued reports on RSPP. Bank of America Corp. reaffirmed a “buy” rating and set a $41.00 target price (up previously from $35.00) on shares of RSP Permian in a research report on Tuesday, June 21st. Canaccord Genuity reissued a “buy” rating and issued a $34.00 price objective on shares of RSP Permian in a research report on Wednesday, July 6th. Roth Capital reissued a “buy” rating on shares of RSP Permian in a research report on Tuesday, July 12th. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, July 13th. Finally, Piper Jaffray Cos. raised their price objective on RSP Permian from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Six analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $37.81.
Shares of RSP Permian (NYSE:RSPP) opened at 42.20 on Monday. The company’s market capitalization is $4.29 billion. RSP Permian has a 12-month low of $16.74 and a 12-month high of $42.72. The firm has a 50-day moving average price of $38.79 and a 200 day moving average price of $34.94.
RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. On average, equities research analysts predict that RSP Permian will post ($0.19) earnings per share for the current year.
In related news, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction dated 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 directly owns 8,590,088 shares in the company, valued at approximately $290,087,271.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth V. Huseman acquired 2,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average price of $37.76 per share, for a total transaction of $75,520.00. Following the completion of the acquisition, the director now owns 19,510 shares in the company, valued at approximately $736,697.60. The disclosure for this purchase can be found here. 23.50% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in RSP Permian by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,442,447 shares of the company’s stock valued at $189,887,000 after buying an additional 705,142 shares during the last quarter. Vanguard Group Inc. boosted its stake in RSP Permian by 9.2% in the second quarter. Vanguard Group Inc. now owns 4,965,931 shares of the company’s stock valued at $173,261,000 after buying an additional 416,576 shares during the last quarter. State Street Corp boosted its stake in RSP Permian by 10.3% in the second quarter. State Street Corp now owns 2,401,441 shares of the company’s stock valued at $83,785,000 after buying an additional 223,969 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in RSP Permian by 5.9% in the second quarter. Westwood Holdings Group Inc. now owns 2,340,197 shares of the company’s stock valued at $81,650,000 after buying an additional 130,236 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in RSP Permian by 19.2% in the second quarter. BlackRock Fund Advisors now owns 1,982,328 shares of the company’s stock valued at $69,163,000 after buying an additional 319,811 shares during the last quarter. Institutional investors own 86.35% of the company’s stock.
About RSP Permian
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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