RSP Permian, Inc. (NYSE:RSPP) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

Several other brokerages have also weighed in on RSPP. Zacks Investment Research lowered shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine lowered shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Credit Suisse Group initiated coverage on shares of RSP Permian in a research report on Thursday, June 1st. They set an “outperform” rating and a $59.00 target price on the stock. Roth Capital set a $44.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $44.00 target price on shares of RSP Permian in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. RSP Permian has a consensus rating of “Buy” and a consensus target price of $46.56.

RSP Permian (NYSE:RSPP) opened at 30.69 on Thursday. RSP Permian has a 12 month low of $29.67 and a 12 month high of $46.92. The stock has a 50 day moving average price of $32.47 and a 200 day moving average price of $36.84. The stock has a market capitalization of $4.87 billion, a P/E ratio of 56.62 and a beta of 2.13.

RSP Permian (NYSE:RSPP) last issued its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company had revenue of $183.10 million for the quarter, compared to analyst estimates of $185.01 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. Equities analysts predict that RSP Permian will post $0.72 EPS for the current fiscal year.

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In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $34.49, for a total transaction of $1,448,580.00. Following the transaction, the director now owns 8,270,351 shares of the company’s stock, valued at $285,244,405.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Zane W. Arrott sold 47,113 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the transaction, the chief operating officer now directly owns 86,614 shares in the company, valued at approximately $2,710,152.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,113 shares of company stock worth $7,011,446. 15.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of RSPP. Sentry Investment Management LLC bought a new position in RSP Permian during the second quarter worth $210,000. Dynamic Technology Lab Private Ltd bought a new position in RSP Permian during the second quarter worth $1,003,000. Public Employees Retirement System of Ohio bought a new position in RSP Permian during the second quarter worth $1,892,000. Verition Fund Management LLC bought a new position in RSP Permian during the second quarter worth $310,000. Finally, BW Gestao de Investimentos Ltda. bought a new position in RSP Permian during the second quarter worth $6,454,000. 78.60% of the stock is currently 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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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