RSP Permian Inc. (RSPP) Upgraded by Stephens to “Overweight”
RSPP has been the topic of several other reports. Zacks Investment Research raised RSP Permian from a hold rating to a buy rating and set a $47.00 price target on the stock in a research note on Wednesday, October 12th. Wells Fargo & Co. initiated coverage on RSP Permian in a research note on Wednesday, August 24th. They issued an outperform rating and a $16.74 price target on the stock. Nomura reissued a buy rating and issued a $17.00 price target on shares of RSP Permian in a research note on Monday, September 26th. FBR & Co initiated coverage on RSP Permian in a research note on Tuesday, September 13th. They issued an outperform rating on the stock. Finally, Roth Capital reissued a buy rating on shares of RSP Permian in a research note on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian presently has an average rating of Buy and an average price target of $39.21.
RSP Permian (NYSE:RSPP) traded down 2.23% during trading on Monday, hitting $41.17. 286,919 shares of the company traded hands. RSP Permian has a 12-month low of $16.74 and a 12-month high of $43.30. The stock has a 50-day moving average price of $38.86 and a 200-day moving average price of $35.12. The firm’s market capitalization is $4.18 billion.
RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, August 8th. The company reported ($0.04) EPS for the quarter, meeting 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 business had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that RSP Permian will post ($0.19) EPS for the current fiscal year.
In other news, VP William Huck sold 6,000 shares of the business’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 completion of the transaction, the vice president now owns 387,837 shares in the company, valued at $15,032,562.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth V. Huseman purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was acquired at an average price of $37.76 per share, with a total value of $75,520.00. Following the purchase, the director now directly owns 19,510 shares of the company’s stock, valued at $736,697.60. The disclosure for this purchase can be found here. Corporate insiders own 23.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BOKF NA acquired a new position in RSP Permian during the second quarter valued at $102,000. BNP Paribas Arbitrage SA boosted its position 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 valued at $106,000 after buying an additional 3,046 shares in the last quarter. Tower Research Capital LLC TRC boosted its position 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 valued at $156,000 after buying an additional 4,329 shares in the last quarter. Comerica Bank acquired a new position in RSP Permian during the second quarter valued at $205,000. Finally, Jane Street Group LLC acquired a new position in RSP Permian during the second quarter valued at $208,000. Hedge funds and other 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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