RSP Permian, Inc. (NYSE:RSPP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “RSP Permian, Inc. is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves primarily in the Permian Basin of West Texas. RSP Permian, Inc. is based in Dallas, United States. “

Several other analysts have also recently commented on RSPP. Royal Bank Of Canada set a $51.00 target price on shares of RSP Permian and gave the company a “buy” rating in a research report on Tuesday, April 25th. Barclays PLC reiterated an “overweight” rating and set a $44.00 target price on shares of RSP Permian in a research report on Wednesday, April 26th. Roth Capital set a $65.00 target price on shares of RSP Permian and gave the company a “buy” rating in a research report on Tuesday, May 2nd. FBR & Co reiterated an “outperform” rating and set a $44.00 target price (down previously from $51.00) on shares of RSP Permian in a research report on Thursday, May 4th. Finally, TheStreet upgraded shares of RSP Permian from a “c” rating to a “b” rating in a research report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. RSP Permian presently has an average rating of “Buy” and an average target price of $46.56.

Shares of RSP Permian (RSPP) opened at 31.61 on Tuesday. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 58.32 and a beta of 2.13. RSP Permian has a 1-year low of $29.67 and a 1-year high of $46.92. The stock’s 50 day moving average price is $32.74 and its 200 day moving average price is $37.39.

RSP Permian (NYSE:RSPP) last issued its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million during 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 business’s revenue for the quarter was up 124.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. Analysts expect that RSP Permian will post $0.72 EPS for the current year.

TRADEMARK VIOLATION WARNING: “RSP Permian, Inc. (NYSE:RSPP) Raised to “Hold” at Zacks Investment Research” was reported by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/rsp-permian-inc-nyserspp-raised-to-hold-at-zacks-investment-research/1490092.html.

In other RSP Permian news, major shareholder Richard A. Kayne sold 17,250,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total transaction of $668,955,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $32.17, for a total transaction of $1,351,140.00. Following the sale, the director now directly owns 8,220,851 shares in the company, valued at $264,464,776.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,418,000 shares of company stock valued at $674,492,280. Company insiders own 15.00% of the company’s stock.

A number of large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of RSP Permian by 65.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after buying an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of RSP Permian during the second quarter valued at approximately $210,000. 1st Global Advisors Inc. boosted its stake in shares of RSP Permian by 1.9% in the first quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 121 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of RSP Permian during the first quarter valued at approximately $279,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of RSP Permian during the second quarter valued at approximately $225,000. 78.60% of the stock is currently owned by hedge funds and other institutional investors.

RSP Permian Company Profile

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.

Get a free copy of the Zacks research report on RSP Permian (RSPP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for RSP Permian (NYSE:RSPP)

Receive News & Ratings for RSP Permian Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RSP Permian Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.