RSP Permian, Inc. (RSPP) Upgraded by BidaskClub to “Sell”
BidaskClub upgraded shares of RSP Permian, Inc. (NYSE:RSPP) from a strong sell rating to a sell rating in a report issued on Friday.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of RSP Permian from a hold rating to a sell rating in a research note on Wednesday, July 19th. ValuEngine cut shares of RSP Permian from a hold rating to a sell rating in a research note on Thursday, June 22nd. Credit Suisse Group started coverage on shares of RSP Permian in a research note on Thursday, June 1st. They issued an outperform rating and a $59.00 target price for the company. Roth Capital set a $44.00 target price on shares of RSP Permian and gave the company a buy rating in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $44.00 target price on shares of RSP Permian in a research note on Thursday, July 20th. 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 given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $47.67.
Shares of RSP Permian (RSPP) traded up 0.22% during trading on Friday, reaching $31.23. 2,252,877 shares of the company traded hands. RSP Permian has a 12 month low of $28.76 and a 12 month high of $46.92. The firm has a 50-day moving average price of $31.28 and a 200-day moving average price of $35.61. The firm has a market capitalization of $4.95 billion, a PE ratio of 57.62 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm’s quarterly revenue was up 124.7% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share. Equities research analysts anticipate that RSP Permian will post $0.73 EPS for the current year.
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In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.71, for a total transaction of $1,289,820.00. Following the sale, the director now owns 8,136,851 shares in the company, valued at $249,882,694.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven D. Gray purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were acquired at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the purchase, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at $9,347,523.12. The disclosure for this purchase can be found here. Insiders have sold 248,560 shares of company stock worth $7,898,543 in the last ninety days. 15.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of RSPP. BlackRock Inc. boosted its stake in RSP Permian by 15,355.9% during the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock worth $306,537,000 after buying an additional 7,351,042 shares in the last quarter. Third Point LLC boosted its stake in RSP Permian by 92.5% during the second quarter. Third Point LLC now owns 3,850,000 shares of the oil and natural gas company’s stock worth $124,240,000 after buying an additional 1,850,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in RSP Permian by 16.4% during the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock worth $369,096,000 after buying an additional 1,256,249 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in RSP Permian by 66.4% during the first quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock worth $116,142,000 after buying an additional 1,118,888 shares in the last quarter. Finally, State Street Corp boosted its stake in RSP Permian by 30.2% during the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock worth $149,756,000 after buying an additional 838,188 shares in the last quarter. 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.
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