RSP Permian, Inc. (RSPP) Rating Reiterated by Barclays PLC
Barclays PLC restated their overweight rating on shares of RSP Permian, Inc. (NYSE:RSPP) in a report issued on Wednesday, May 17th. They currently have a $46.00 price target on the oil and natural gas company’s stock, up from their previous price target of $44.00.
Several other research analysts have also recently weighed in on RSPP. Scotiabank set a $54.00 price target on shares of RSP Permian and gave the stock a buy rating in a research note on Tuesday, February 28th. Zacks Investment Research upgraded shares of RSP Permian from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research report on Saturday, March 4th. Deutsche Bank AG decreased their price objective on shares of RSP Permian to $52.00 and set a buy rating on the stock in a research report on Tuesday, March 7th. Goldman Sachs Group, Inc. (The) upgraded shares of RSP Permian from a neutral rating to a buy rating and set a $63.00 price objective on the stock in a research report on Tuesday, April 11th. Finally, Stifel Nicolaus initiated coverage on shares of RSP Permian in a research report on Wednesday, April 12th. They set a buy rating and a $46.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $48.76.
Shares of RSP Permian (NYSE:RSPP) traded down 2.53% during midday trading on Wednesday, reaching $30.49. 4,316,243 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $37.54 and a 200-day moving average of $40.67. RSP Permian has a one year low of $30.18 and a one year high of $46.92. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 118.64 and a beta of 2.11.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business had revenue of $169.93 million for the quarter, compared to analysts’ expectations of $159.81 million. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. On average, equities research analysts anticipate that RSP Permian will post $0.98 earnings per share for the current year.
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In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $40.80, for a total transaction of $1,713,600.00. Following the transaction, the director now 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP William Huck sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $41.17, for a total transaction of $247,020.00. Following the transaction, the vice president now owns 334,452 shares in the company, valued at approximately $13,769,388.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,397,000 shares of company stock valued at $674,652,100. 23.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dai Ichi Life Holdings Inc. raised its position in shares of RSP Permian by 29.3% in the third quarter. Dai Ichi Life Holdings Inc. now owns 64,233 shares of the oil and natural gas company’s stock worth $2,491,000 after buying an additional 14,545 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of RSP Permian during the third quarter worth about $31,509,000. Capital Research Global Investors bought a new position in shares of RSP Permian during the third quarter worth about $9,610,000. Weiss Asset Management LP raised its position in shares of RSP Permian by 12.5% in the third quarter. Weiss Asset Management LP now owns 17,854 shares of the oil and natural gas company’s stock worth $692,000 after buying an additional 1,986 shares during the last quarter. Finally, BOKF NA raised its position in shares of RSP Permian by 282.0% in the third quarter. BOKF NA now owns 11,203 shares of the oil and natural gas company’s stock worth $434,000 after buying an additional 8,270 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.
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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