RSP Permian Inc. (NYSE:RSPP) received a $55.00 price objective from analysts at KLR Group in a research report issued on Tuesday. The firm currently has a a “buy” rating on the stock. KLR Group’s price target suggests a potential upside of 32.50% from the company’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Co. initiated 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. Deutsche Bank AG raised their target price on RSP Permian from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Capital One Financial Corp. initiated coverage on RSP Permian in a research report on Thursday, October 6th. They set an “overweight” rating for the company. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, October 12th. Finally, FBR & Co initiated coverage on RSP Permian in a research report on Tuesday, September 13th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $40.10.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

Shares of RSP Permian (NYSE:RSPP) opened at 41.04 on Tuesday. The stock’s 50 day moving average price is $39.03 and its 200 day moving average price is $35.30. RSP Permian has a 12 month low of $16.74 and a 12 month high of $43.30. The firm’s market cap is $4.17 billion.

RSP Permian (NYSE:RSPP) last issued its earnings results on Monday, August 8th. The company reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The business earned $81.50 million during 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%. RSP Permian’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. Equities research analysts predict 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 RSP Permian stock in a transaction that occurred 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 sale, the director now directly 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 can be accessed through the SEC website. Also, VP William Huck sold 6,000 shares of RSP Permian stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $39.79, for a total value of $238,740.00. Following the sale, the vice president now directly owns 369,837 shares in the company, valued at $14,715,814.23. The disclosure for this sale can be found here. Corporate insiders own 23.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in RSPP. Renaissance Technologies LLC increased its stake in RSP Permian by 33.9% in the first quarter. Renaissance Technologies LLC now owns 441,200 shares of the company’s stock worth $12,812,000 after buying an additional 111,800 shares during the last quarter. Kennedy Capital Management Inc. increased its position in shares of RSP Permian by 109.3% in the first quarter. Kennedy Capital Management Inc. now owns 146,584 shares of the company’s stock valued at $4,257,000 after buying an additional 76,556 shares during the last quarter. Geode Capital Management LLC increased its position in shares of RSP Permian by 2.2% in the first quarter. Geode Capital Management LLC now owns 441,248 shares of the company’s stock valued at $12,813,000 after buying an additional 9,339 shares during the last quarter. BP Capital Fund Advisors LLC increased its position in shares of RSP Permian by 17.6% in the first quarter. BP Capital Fund Advisors LLC now owns 264,019 shares of the company’s stock valued at $7,667,000 after buying an additional 39,480 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of RSP Permian by 60.3% in the first quarter. UBS Asset Management Americas Inc. now owns 63,814 shares of the company’s stock valued at $1,854,000 after buying an additional 23,998 shares during the last quarter. 86.35% of the stock is currently 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.

5 Day Chart for NYSE:RSPP

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