RSP Permian Inc. (RSPP) Receives Buy Rating from Nomura
Several other equities research analysts also recently weighed in on the company. Stephens upgraded RSP Permian from an equal weight rating to an overweight rating in a report on Monday. Wunderlich upped their price target on RSP Permian from $44.00 to $51.00 and gave the stock a buy rating in a report on Monday. Canaccord Genuity restated a buy rating and set a $50.00 price target (up previously from $42.00) on shares of RSP Permian in a report on Friday. Zacks Investment Research upgraded RSP Permian from a hold rating to a buy rating and set a $47.00 price target on the stock in a report on Wednesday, October 12th. Finally, Capital One Financial Corp. started coverage on RSP Permian in a report on Thursday, October 6th. They set an overweight rating on the stock. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $39.21.
Shares of RSP Permian (NYSE:RSPP) traded down 0.78% during trading on Monday, hitting $41.78. The stock had a trading volume of 159,701 shares. The stock’s market cap is $4.25 billion. The company’s 50 day moving average price is $38.86 and its 200 day moving average price is $35.12. RSP Permian has a 12 month low of $16.74 and a 12 month high of $43.30.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The company had revenue of $81.50 million for the quarter, compared to the consensus estimate of $71.12 million. During the same quarter in the prior year, the business earned $0.16 EPS. RSP Permian’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect 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 firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $33.77, for a total transaction of $709,170.00. Following the completion of the transaction, the director now owns 8,590,088 shares of the company’s stock, valued at $290,087,271.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William Huck sold 6,000 shares of the firm’s 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 transaction, the vice president now directly owns 387,837 shares of the company’s stock, valued at approximately $15,032,562.12. The disclosure for this sale can be found here. 23.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in RSPP. Boothbay Fund Management LLC increased its position in RSP Permian by 0.4% in the first quarter. Boothbay Fund Management LLC now owns 8,887 shares of the company’s stock valued at $258,000 after buying an additional 39 shares during the last quarter. Raymond James Trust N.A. boosted its stake in RSP Permian by 0.4% in the second quarter. Raymond James Trust N.A. now owns 9,201 shares of the company’s stock valued at $320,000 after buying an additional 41 shares during the period. Texan Capital Management boosted its stake in RSP Permian by 2.8% in the second quarter. Texan Capital Management now owns 9,300 shares of the company’s stock valued at $324,000 after buying an additional 250 shares during the period. Geneva Advisors LLC boosted its stake in RSP Permian by 1.7% in the second quarter. Geneva Advisors LLC now owns 23,298 shares of the company’s stock valued at $813,000 after buying an additional 394 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in RSP Permian by 3.7% in the second quarter. Panagora Asset Management Inc. now owns 11,046 shares of the company’s stock valued at $385,000 after buying an additional 394 shares during the period. 86.35% of the stock is owned by institutional investors.
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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