RSP Permian Inc. (RSPP) Receives New Coverage from Analysts at FBR & Co
A number of other equities analysts have also recently issued reports on RSPP. Jefferies Group restated a buy rating and set a $42.00 target price (up previously from $38.00) on shares of RSP Permian in a report on Wednesday, June 8th. Deutsche Bank AG reaffirmed a buy rating on shares of RSP Permian in a research report on Thursday, June 2nd. Wunderlich raised their price target on RSP Permian from $34.00 to $38.00 and gave the stock a buy rating in a research report on Tuesday, June 14th. KeyCorp raised their price target on RSP Permian from $43.00 to $45.00 and gave the stock an overweight rating in a research report on Monday, August 22nd. Finally, Imperial Capital started coverage on RSP Permian in a research report on Wednesday, June 15th. They set an outperform rating and a $45.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $37.09.
Shares of RSP Permian (NYSE:RSPP) opened at 37.11 on Tuesday. The company’s market cap is $3.77 billion. The firm’s 50-day moving average price is $38.03 and its 200-day moving average price is $33.21. RSP Permian has a 12 month low of $16.74 and a 12 month high of $40.74.
RSP Permian (NYSE:RSPP) last issued its earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The firm had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. During the same quarter last year, the business earned $0.16 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that RSP Permian will post ($0.18) EPS for the current fiscal year.
In other news, VP William Huck sold 6,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $39.73, for a total transaction of $238,380.00. Following the completion of the sale, the vice president now directly owns 381,837 shares in the company, valued at approximately $15,170,384.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $34.04, for a total value of $1,429,680.00. Following the sale, the director now owns 8,590,088 shares of the company’s stock, valued at $292,406,595.52. The disclosure for this sale can be found here. Insiders own 23.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its stake in RSP Permian by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,723,550 shares of the company’s stock worth $50,052,000 after buying an additional 23,982 shares during the last quarter. BlackRock Inc. boosted its position in RSP Permian by 15.0% in the first quarter. BlackRock Inc. now owns 27,721 shares of the company’s stock worth $806,000 after buying an additional 3,608 shares during the period. 1832 Asset Management L.P. acquired a new position in RSP Permian during the first quarter worth approximately $1,942,000. Renaissance Technologies LLC boosted its position in RSP Permian by 33.9% in the first quarter. Renaissance Technologies LLC now owns 441,200 shares of the company’s stock worth $12,812,000 after buying an additional 111,800 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in RSP Permian by 60.3% in the first quarter. UBS Asset Management Americas Inc. now owns 63,814 shares of the company’s stock worth $1,854,000 after buying an additional 23,998 shares during the period. Hedge funds and other institutional investors own 86.36% of the company’s stock.
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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