RSP Permian Inc. (RSPP) Price Target Increased to $55.00 by Analysts at KeyCorp
Several other research analysts have also recently issued reports on the company. KLR Group set a $55.00 price target on RSP Permian and gave the company a buy rating in a report on Tuesday, October 18th. 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 report on Wednesday, October 12th. Capital One Financial Corp. began coverage on RSP Permian in a report on Thursday, October 6th. They issued an overweight rating on the stock. Wells Fargo & Co. began coverage on shares of RSP Permian in a research report on Wednesday, August 24th. They set an outperform rating and a $16.74 price objective on the stock. Finally, Deutsche Bank AG lifted their price objective on shares of RSP Permian from $39.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $40.68.
RSP Permian (NYSE:RSPP) opened at 42.58 on Tuesday. The stock’s market capitalization is $5.41 billion. The company has a 50 day moving average price of $39.76 and a 200 day moving average price of $36.79. RSP Permian has a 12 month low of $16.74 and a 12 month high of $43.30.
In other news, VP William Huck sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $39.73, for a total value of $238,380.00. Following the completion of the transaction, the vice president now directly owns 381,837 shares in the company, valued at approximately $15,170,384.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $34.67, for a total transaction of $728,070.00. Following the completion of the transaction, the director now owns 8,506,088 shares of the company’s stock, valued at $294,906,070.96. The disclosure for this sale can be found here. 23.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of RSPP. BOKF NA purchased a new position in shares of RSP Permian during the second quarter valued at approximately $102,000. BNP Paribas Arbitrage SA boosted its position in shares of 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of RSP Permian by 121.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,191 shares of the company’s stock valued at $124,000 after buying an additional 1,750 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 during the last quarter. Finally, Comerica Bank purchased a new position in shares of RSP Permian during the second quarter valued at approximately $205,000. Institutional investors own 69.67% of the company’s stock.
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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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