RSP Permian Inc. (NYSE:RSPP) Receives Consensus Recommendation of “Buy” from Analysts
Shares of RSP Permian Inc. (NYSE:RSPP) have earned a consensus recommendation of “Buy” from the thirty-four ratings firms that are presently covering the company. Seven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $37.45.
RSPP has been the subject of a number of research reports. Wells Fargo & Co. initiated coverage on RSP Permian in a report on Wednesday, August 24th. They issued an “outperform” rating and a $16.74 price target for the company. Roth Capital restated a “buy” rating on shares of RSP Permian in a report on Tuesday, July 12th. Morgan Stanley started coverage on RSP Permian in a report on Thursday, July 21st. They set an “equal weight” rating and a $43.00 target price for the company. Canaccord Genuity restated a “buy” rating and set a $34.00 target price on shares of RSP Permian in a report on Wednesday, July 6th. Finally, Bank of America Corp. restated a “buy” rating and set a $41.00 target price (up previously from $35.00) on shares of RSP Permian in a report on Tuesday, June 21st.
In other news, Director Kenneth V. Huseman purchased 2,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was acquired at an average price of $37.76 per share, for a total transaction of $75,520.00. Following the acquisition, the director now directly owns 19,510 shares of the company’s stock, valued at $736,697.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP William Huck sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $38.76, for a total transaction of $232,560.00. Following the sale, the vice president now owns 387,837 shares of the company’s stock, valued at approximately $15,032,562.12. The disclosure for this sale can be found here. Insiders own 23.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in RSPP. Dimensional Fund Advisors LP increased its stake in shares of RSP Permian by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,442,447 shares of the company’s stock worth $189,887,000 after buying an additional 705,142 shares in the last quarter. Vanguard Group Inc. increased its stake in RSP Permian by 9.2% in the second quarter. Vanguard Group Inc. now owns 4,965,931 shares of the company’s stock valued at $173,261,000 after buying an additional 416,576 shares during the period. Teachers Advisors Inc. increased its stake in RSP Permian by 2.2% in the first quarter. Teachers Advisors Inc. now owns 2,705,718 shares of the company’s stock valued at $78,574,000 after buying an additional 58,769 shares during the period. State Street Corp increased its stake in RSP Permian by 10.3% in the second quarter. State Street Corp now owns 2,401,441 shares of the company’s stock valued at $83,785,000 after buying an additional 223,969 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in RSP Permian by 5.9% in the second quarter. Westwood Holdings Group Inc. now owns 2,340,197 shares of the company’s stock valued at $81,650,000 after buying an additional 130,236 shares during the period. Institutional investors and hedge funds own 86.36% of the company’s stock.
Shares of RSP Permian (NYSE:RSPP) traded down 0.64% during midday trading on Tuesday, reaching $37.06. The company had a trading volume of 517,622 shares. RSP Permian has a 52 week low of $16.74 and a 52 week high of $40.74. The firm’s market capitalization is $3.77 billion. The stock has a 50-day moving average of $38.32 and a 200 day moving average of $33.55.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm earned $81.50 million during the quarter, compared to analyst estimates of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. RSP Permian’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, analysts anticipate that RSP Permian will post ($0.18) earnings per share for the current year.
About RSP Permian
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
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