RSP Permian, Inc. (NYSE:RSPP) Given “Buy” Rating at Jefferies Group LLC
RSP Permian, Inc. (NYSE:RSPP)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group LLC in a report released on Thursday, July 6th. They currently have a $46.00 price target on the oil and natural gas company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 37.81% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded RSP Permian from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. Scotiabank set a $51.00 target price on RSP Permian and gave the stock a “buy” rating in a research report on Monday, March 27th. Credit Suisse Group started coverage on shares of RSP Permian in a report on Thursday, June 1st. They issued an “outperform” rating and a $59.00 price target on the stock. Goldman Sachs Group, Inc. (The) raised shares of RSP Permian from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, April 11th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $44.00 price target (down previously from $51.00) on shares of RSP Permian in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $48.51.
Shares of RSP Permian (RSPP) traded up 2.33% on Thursday, hitting $33.38. The stock had a trading volume of 1,259,286 shares. The stock has a market cap of $5.29 billion, a PE ratio of 129.88 and a beta of 2.12. RSP Permian has a 12 month low of $29.67 and a 12 month high of $46.92. The company has a 50 day moving average price of $35.62 and a 200-day moving average price of $39.91.
RSP Permian (NYSE:RSPP) last posted its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $169.93 million for the quarter, compared to the consensus estimate of $159.81 million. RSP Permian had a return on equity of 1.18% and a net margin of 6.73%. On average, equities research analysts anticipate that RSP Permian will post $0.93 earnings per share for the current year.
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In other RSP Permian news, major shareholder Richard A. Kayne sold 17,250,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total value of $668,955,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.21, for a total transaction of $676,410.00. Following the completion of the sale, the director now owns 8,220,851 shares of the company’s stock, valued at $264,793,610.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,412,000 shares of company stock valued at $674,719,030. 15.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new stake in shares of RSP Permian during the second quarter valued at approximately $461,000. Nuveen Asset Management LLC raised its stake in shares of RSP Permian by 12.4% in the first quarter. Nuveen Asset Management LLC now owns 45,933 shares of the oil and natural gas company’s stock valued at $1,903,000 after buying an additional 5,072 shares during the period. PHH Investments Ltd. bought a new stake in shares of RSP Permian during the first quarter valued at approximately $561,000. Point72 Asset Management L.P. bought a new stake in shares of RSP Permian during the first quarter valued at approximately $8,702,000. Finally, Lyon Street Capital LLC raised its stake in shares of RSP Permian by 40.0% in the first quarter. Lyon Street Capital LLC now owns 87,443 shares of the oil and natural gas company’s stock valued at $3,623,000 after buying an additional 25,000 shares during the period. Institutional investors and hedge funds own 77.54% 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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