RSP Permian’s (RSPP) Buy Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of RSP Permian, Inc. (NYSE:RSPP) in a research note published on Tuesday. They currently have a $47.00 target price on the oil and natural gas company’s stock.
A number of other research firms have also recently weighed in on RSPP. Stifel Nicolaus set a $43.00 price objective on shares of RSP Permian and gave the stock a buy rating in a report on Thursday, October 5th. Northland Securities reissued a buy rating and set a $52.00 price objective on shares of RSP Permian in a report on Tuesday, September 26th. BidaskClub raised shares of RSP Permian from a sell rating to a hold rating in a report on Saturday, September 23rd. Piper Jaffray Companies cut their price objective on shares of RSP Permian from $49.00 to $37.00 and set an overweight rating on the stock in a report on Monday, September 18th. Finally, ValuEngine cut shares of RSP Permian from a hold rating to a sell rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. RSP Permian has a consensus rating of Buy and a consensus price target of $47.48.
RSP Permian (NYSE:RSPP) traded down 0.75% on Tuesday, hitting $34.26. 41,544 shares of the company traded hands. The firm has a market capitalization of $5.43 billion, a P/E ratio of 63.21 and a beta of 2.17. The stock’s 50-day moving average is $32.17 and its 200 day moving average is $34.85. RSP Permian has a 12 month low of $28.76 and a 12 month high of $46.92.
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, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The firm had revenue of $183.10 million for 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 revenue was up 124.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. Equities analysts forecast that RSP Permian will post $0.74 EPS for the current fiscal year.
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In related news, 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 value of $1,474,165.77. Following the completion of the transaction, the chief operating officer now owns 86,614 shares of the company’s stock, valued at approximately $2,710,152.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven D. Gray bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $29.99 per share, with a total value of $299,900.00. Following the purchase, the chief executive officer now directly owns 311,688 shares in the company, valued at approximately $9,347,523.12. The disclosure for this purchase can be found here. Insiders sold a total of 248,560 shares of company stock valued at $8,060,453 in the last three months. 15.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of RSPP. BNP Paribas Arbitrage SA increased its stake in shares of RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after acquiring an additional 1,705 shares during the last quarter. Gluskin Sheff & Assoc Inc. acquired a new position in shares of RSP Permian during the 2nd quarter valued at about $210,000. Sentry Investment Management LLC acquired a new position in shares of RSP Permian during the 2nd quarter valued at about $210,000. GSA Capital Partners LLP acquired a new position in shares of RSP Permian during the 2nd quarter valued at about $225,000. Finally, Two Sigma Securities LLC acquired a new position in shares of RSP Permian during the 1st quarter valued at about $279,000. 86.57% of the stock is owned by institutional investors.
About RSP Permian
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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