Northland Securities Reiterates “$52.00” Price Target for RSP Permian, Inc. (NYSE:RSPP)
Northland Securities set a $52.00 target price on RSP Permian, Inc. (NYSE:RSPP) in a research report report published on Monday. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
Several other research analysts also recently commented on RSPP. UBS AG raised RSP Permian from a neutral rating to a buy rating and increased their price objective for the company from $45.00 to $53.00 in a research note on Thursday, March 23rd. Scotiabank set a $51.00 price objective on RSP Permian and gave the company a buy rating in a research note on Monday, March 27th. Zacks Investment Research downgraded RSP Permian from a buy rating to a hold rating in a research note on Saturday, April 8th. Goldman Sachs Group, Inc. (The) raised RSP Permian from a neutral rating to a buy rating and set a $63.00 target price for the company in a research note on Tuesday, April 11th. Finally, Stifel Nicolaus initiated coverage on RSP Permian in a research note on Wednesday, April 12th. They issued a buy rating and a $46.00 target price for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-seven have issued a buy rating to the company. RSP Permian presently has an average rating of Buy and a consensus target price of $48.51.
RSP Permian (NYSE:RSPP) opened at 33.86 on Monday. 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 of $33.09 and a 200-day moving average of $38.75. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 131.75 and a beta of 2.12.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. RSP Permian had a return on equity of 1.18% and a net margin of 6.73%. The firm had revenue of $169.93 million during the quarter, compared to the consensus estimate of $159.81 million. On average, equities research analysts forecast that RSP Permian will post $0.90 earnings per share for the current year.
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In related news, VP James E. Mutrie sold 11,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $39.08, for a total transaction of $429,880.00. Following the completion of the transaction, the vice president now directly owns 51,627 shares in the company, valued at approximately $2,017,583.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $32.17, for a total value of $1,351,140.00. Following the transaction, the director now owns 8,220,851 shares of the company’s stock, valued at $264,464,776.67. The disclosure for this sale can be found here. Insiders have sold a total of 17,408,000 shares of company stock valued at $674,565,790 over the last 90 days. 15.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in RSPP. 1st Global Advisors Inc. boosted its position 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 during the period. Teacher Retirement System of Texas boosted its position in shares of RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 331 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of RSP Permian by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,236 shares of the oil and natural gas company’s stock worth $1,708,000 after buying an additional 450 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of RSP Permian by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 58,530 shares of the oil and natural gas company’s stock worth $2,425,000 after buying an additional 598 shares during the period. Finally, Adams Diversified Equity Fund Inc. boosted its position in shares of RSP Permian by 3.1% in the first quarter. Adams Diversified Equity Fund Inc. now owns 20,000 shares of the oil and natural gas company’s stock worth $829,000 after buying an additional 600 shares during the period. Institutional investors own 77.50% 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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