Royal Bank Of Canada Raises RSP Permian, Inc. (RSPP) Price Target to $45.00
RSP Permian, Inc. (NYSE:RSPP) had its price objective boosted by Royal Bank Of Canada from $43.00 to $45.00 in a research report report published on Monday morning, Marketbeat.com reports. Royal Bank Of Canada currently has an outperform rating on the oil and natural gas company’s stock.
RSPP has been the topic of several other research reports. Barclays PLC raised their price target on RSP Permian from $38.00 to $45.00 and gave the company an overweight rating in a research note on Wednesday, October 11th. Northland Securities restated a buy rating and set a $52.00 price target on shares of RSP Permian in a research note on Wednesday, November 1st. Zacks Investment Research upgraded RSP Permian from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Friday, November 3rd. Jefferies Group LLC restated a buy rating and set a $47.00 price target on shares of RSP Permian in a research note on Tuesday, October 10th. Finally, Williams Capital cut their price target on RSP Permian from $45.00 to $43.00 and set a buy rating on the stock in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $46.88.
RSP Permian (NYSE RSPP) traded down $0.28 during trading hours on Monday, hitting $35.79. The stock had a trading volume of 1,873,200 shares, compared to its average volume of 2,070,110. RSP Permian has a fifty-two week low of $28.76 and a fifty-two week high of $46.92. The company has a market capitalization of $5,720.68, a P/E ratio of 59.13, a price-to-earnings-growth ratio of 1.80 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The business had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. During the same period last year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 115.5% compared to the same quarter last year. analysts forecast that RSP Permian will post 0.77 EPS for the current fiscal year.
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In related news, VP James E. Mutrie sold 12,447 shares of RSP Permian stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $31.47, for a total transaction of $391,707.09. Following the completion of the sale, the vice president now owns 38,005 shares of the company’s stock, valued at $1,196,017.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $30.71, for a total value of $1,289,820.00. Following the sale, the director now directly owns 8,136,851 shares of the company’s stock, valued at approximately $249,882,694.21. The disclosure for this sale can be found here. Insiders have sold 138,447 shares of company stock worth $4,525,137 in the last 90 days. Insiders own 15.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of RSP Permian by 11.8% during the second quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock worth $321,513,000 after purchasing an additional 1,054,281 shares during the period. Boston Partners lifted its holdings in shares of RSP Permian by 0.9% during the third quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock worth $254,606,000 after purchasing an additional 69,145 shares during the period. FMR LLC lifted its holdings in shares of RSP Permian by 5.9% during the second quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock worth $175,023,000 after purchasing an additional 300,249 shares during the period. Third Point LLC lifted its holdings in shares of RSP Permian by 19.5% during the third quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock worth $159,114,000 after purchasing an additional 750,000 shares during the period. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of RSP Permian by 38.3% during the second quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock worth $125,102,000 after purchasing an additional 1,073,137 shares during the period. 87.02% of the stock is owned by hedge funds and other 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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