RSP Permian, Inc. (NYSE:RSPP) has received an average rating of “Buy” from the thirty-three brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $47.77.

Several equities research analysts have commented on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $44.00 price objective on shares of RSP Permian in a research note on Thursday, July 20th. Credit Suisse Group assumed coverage on shares of RSP Permian in a research note on Thursday, June 1st. They issued an “outperform” rating and a $59.00 price objective for the company. Zacks Investment Research lowered shares of RSP Permian from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Bank of America Corporation assumed coverage on shares of RSP Permian in a research note on Wednesday, July 19th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, TheStreet lowered shares of RSP Permian from a “b-” rating to a “c” rating in a research note on Wednesday, July 5th.

Shares of RSP Permian (NYSE:RSPP) opened at 31.37 on Tuesday. The firm has a market cap of $4.98 billion, a P/E ratio of 57.88 and a beta of 2.15. RSP Permian has a 52-week low of $29.31 and a 52-week high of $46.92. The company has a 50 day moving average price of $32.15 and a 200-day moving average price of $36.34.

RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $183.10 million for the quarter, compared to analysts’ expectations of $185.01 million. During the same quarter last year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 124.7% compared to the same quarter last year. On average, analysts expect that RSP Permian will post $0.73 earnings per share for the current fiscal year.

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In other news, CEO Steven D. Gray acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were purchased at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the transaction, the chief executive officer now owns 311,688 shares of the company’s stock, valued at $9,347,523.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Zane W. Arrott sold 47,113 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the completion of the transaction, the chief operating officer now owns 86,614 shares in the company, valued at approximately $2,710,152.06. The disclosure for this sale can be found here. Insiders sold 227,560 shares of company stock valued at $7,403,153 over the last three months. 15.00% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased 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 valued at $335,000 after acquiring an additional 331 shares during the period. OppenheimerFunds Inc. increased its position in shares of RSP Permian by 24.3% in the first quarter. OppenheimerFunds Inc. now owns 13,448 shares of the oil and natural gas company’s stock valued at $557,000 after acquiring an additional 2,627 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of RSP Permian by 27.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 592,654 shares of the oil and natural gas company’s stock valued at $24,554,000 after acquiring an additional 128,887 shares during the period. Legal & General Group Plc increased its position in shares of RSP Permian by 2.7% in the first quarter. Legal & General Group Plc now owns 35,697 shares of the oil and natural gas company’s stock valued at $1,476,000 after acquiring an additional 945 shares during the period. Finally, Quantitative Systematic Strategies LLC increased its position in shares of RSP Permian by 25.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 56,391 shares of the oil and natural gas company’s stock valued at $1,786,000 after acquiring an additional 11,484 shares during the period. Hedge funds and other institutional investors own 86.60% 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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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