RSP Permian Inc. (RSPP) Receives New Coverage from Analysts at FBR & Co
Several other research firms also recently weighed in on RSPP. Zacks Investment Research downgraded shares of RSP Permian from a buy rating to a hold rating in a report on Tuesday, August 16th. Deutsche Bank AG upped their price objective on shares of RSP Permian from $39.00 to $48.00 and gave the stock a buy rating in a report on Wednesday, August 10th. Goldman Sachs Group Inc. downgraded shares of RSP Permian from a buy rating to a neutral rating and upped their price objective for the stock from $38.00 to $39.00 in a report on Wednesday, August 10th. Wunderlich upped their price objective on shares of RSP Permian from $34.00 to $38.00 and gave the stock a buy rating in a report on Tuesday, June 14th. Finally, Bank of America Corp. reaffirmed a buy rating and issued a $41.00 price objective (up previously from $35.00) on shares of RSP Permian in a report on Tuesday, June 21st. Seven research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. RSP Permian presently has a consensus rating of Buy and a consensus price target of $37.09.
Shares of RSP Permian (NYSE:RSPP) opened at 37.11 on Tuesday. RSP Permian has a one year low of $16.74 and a one year high of $40.74. The stock’s 50 day moving average is $38.03 and its 200-day moving average is $33.21. The stock’s market capitalization is $3.77 billion.
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 the consensus estimate of ($0.04). RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The company earned $81.50 million during the quarter, compared to the consensus estimate of $71.12 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that RSP Permian will post ($0.18) EPS for the current year.
In related news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $34.10, for a total value of $1,432,200.00. Following the completion of the sale, the director now owns 8,632,088 shares of the company’s stock, valued at approximately $294,354,200.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kenneth V. Huseman purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $37.76 per share, with a total value of $75,520.00. Following the purchase, the director now owns 19,510 shares in the company, valued at approximately $736,697.60. The disclosure for this purchase can be found here. 23.50% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. BOKF NA purchased a new stake in shares of RSP Permian during the second quarter valued at approximately $102,000. BNP Paribas Arbitrage SA boosted its stake in shares of RSP Permian by 50,766.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,052 shares of the company’s stock valued at $106,000 after buying an additional 3,046 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of RSP Permian by 3,330.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,459 shares of the company’s stock valued at $156,000 after buying an additional 4,329 shares during the last quarter. Comerica Bank bought a new stake in shares of RSP Permian during the second quarter worth about $205,000. Finally, Jane Street Group LLC bought a new stake in shares of RSP Permian during the second quarter worth about $208,000. 86.36% of the stock is owned by institutional investors and hedge funds.
RSP Permian Company Profile
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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