RSP Permian, Inc. (RSPP) Expected to Earn FY2017 Earnings of $0.85 Per Share
RSP Permian, Inc. (NYSE:RSPP) – KeyCorp upped their FY2017 earnings per share (EPS) estimates for shares of RSP Permian in a research note issued to investors on Tuesday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will earn $0.85 per share for the year, up from their prior forecast of $0.77. KeyCorp currently has a “Buy” rating and a $49.00 price target on the stock. KeyCorp also issued estimates for RSP Permian’s Q4 2017 earnings at $0.33 EPS, Q4 2018 earnings at $0.63 EPS and Q1 2019 earnings at $0.69 EPS.
A number of other research firms also recently issued reports on RSPP. Royal Bank of Canada raised their price objective on shares of RSP Permian from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, November 13th. Zacks Investment Research downgraded shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Credit Suisse Group assumed coverage on shares of RSP Permian in a report on Monday, December 11th. They set an “outperform” rating and a $44.00 price objective for the company. Northland Securities set a $48.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Barclays raised their price objective on shares of RSP Permian from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $45.87.
RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The firm’s revenue for the quarter was up 115.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) earnings per share.
In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $34.74, for a total transaction of $1,459,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Erik B. Daugbjerg sold 19,973 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $37.27, for a total transaction of $744,393.71. Following the transaction, the vice president now owns 203,598 shares of the company’s stock, valued at approximately $7,588,097.46. The disclosure for this sale can be found here. Insiders have sold 191,973 shares of company stock valued at $6,861,844 in the last quarter. Company insiders own 15.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in RSPP. Aperio Group LLC boosted its position in shares of RSP Permian by 27.1% in the second quarter. Aperio Group LLC now owns 17,908 shares of the oil and natural gas company’s stock valued at $578,000 after acquiring an additional 3,814 shares during the period. Public Employees Retirement Association of Colorado bought a new position in shares of RSP Permian in the second quarter valued at approximately $662,000. NGAM Advisors L.P. bought a new position in shares of RSP Permian in the second quarter valued at approximately $863,000. Great West Life Assurance Co. Can boosted its position in shares of RSP Permian by 32.5% in the second quarter. Great West Life Assurance Co. Can now owns 13,234 shares of the oil and natural gas company’s stock valued at $426,000 after acquiring an additional 3,245 shares during the period. Finally, Sei Investments Co. boosted its position in shares of RSP Permian by 107.5% in the second quarter. Sei Investments Co. now owns 169,491 shares of the oil and natural gas company’s stock valued at $5,469,000 after acquiring an additional 87,813 shares during the period. Institutional investors own 86.24% of the company’s stock.
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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