RSP Permian Inc (RSPP) Earns Outperform Rating from FBR & Co
FBR & Co restated their outperform rating on shares of RSP Permian Inc (NYSE:RSPP) in a research report sent to investors on Thursday, May 4th. The brokerage currently has a $44.00 target price on the oil and natural gas company’s stock, down from their previous target price of $51.00.
Several other research firms have also recently issued reports on RSPP. Scotiabank set a $54.00 target price on RSP Permian and gave the stock a buy rating in a research report on Tuesday, February 28th. Zacks Investment Research upgraded RSP Permian from a hold rating to a buy rating and set a $45.00 target price for the company in a research report on Tuesday, April 11th. Goldman Sachs Group Inc upgraded RSP Permian from a neutral rating to a buy rating and set a $63.00 target price for the company in a research report on Tuesday, April 11th. Deutsche Bank AG cut their target price on RSP Permian to $52.00 and set a buy rating for the company in a research report on Tuesday, March 7th. Finally, Roth Capital set a $65.00 target price on RSP Permian and gave the stock a buy rating in a research report on Wednesday, April 12th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $48.15.
RSP Permian (NYSE:RSPP) traded down 1.72% on Thursday, hitting $39.99. 5,650,029 shares of the stock were exchanged. The company has a 50-day moving average price of $39.63 and a 200-day moving average price of $41.18. RSP Permian has a 52-week low of $31.30 and a 52-week high of $46.92. The firm has a market cap of $6.34 billion, a PE ratio of 155.60 and a beta of 2.29.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $169.93 million during the quarter, compared to analysts’ expectations of $159.81 million. RSP Permian had a negative return on equity of 0.47% and a negative net margin of 15.43%. On average, equities research analysts anticipate that RSP Permian will post $1.01 EPS for the current fiscal year.
In related news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $40.80, for a total transaction of $1,713,600.00. Following the transaction, the director now directly owns 8,355,451 shares in the company, valued at approximately $340,902,400.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP William Huck sold 4,000 shares of the business’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $38.31, for a total value of $153,240.00. Following the transaction, the vice president now owns 329,752 shares in the company, valued at $12,632,799.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,000 shares of company stock worth $5,876,440. 23.50% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. WFG Advisors LP boosted its stake in shares of RSP Permian by 724,900.0% in the fourth quarter. WFG Advisors LP now owns 7,250 shares of the oil and natural gas company’s stock worth $107,000 after buying an additional 7,249 shares in the last quarter. Friedberg Investment Management purchased a new stake in shares of RSP Permian during the fourth quarter worth approximately $257,000. Pacer Advisors Inc. purchased a new stake in shares of RSP Permian during the third quarter worth approximately $261,000. 1st Global Advisors Inc. boosted its stake in shares of RSP Permian by 1.9% in the first quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock worth $273,000 after buying an additional 121 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in shares of RSP Permian by 18.5% in the third quarter. Aperio Group LLC now owns 7,116 shares of the oil and natural gas company’s stock worth $276,000 after buying an additional 1,109 shares in the last quarter. 63.34% of the stock is owned by institutional investors.
RSP Permian Company Profile
RSP Permian, Inc is an independent oil and natural gas company. The Company is engaged in 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’s properties are located on contiguous acreage blocks in the Midland Basin, and the Delaware Basin, both sub-basins of the Permian Basin.
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