RSP Permian, Inc. (RSPP) Given Buy Rating at Scotiabank
Other equities analysts have also issued reports about the company. Zacks Investment Research raised RSP Permian from a strong sell rating to a hold rating in a research report on Tuesday, August 15th. BMO Capital Markets set a $42.00 target price on RSP Permian and gave the company a buy rating in a research report on Tuesday, August 8th. Williams Capital set a $47.00 target price on RSP Permian and gave the company a buy rating in a research report on Tuesday, August 8th. Imperial Capital began coverage on RSP Permian in a research report on Tuesday, August 15th. They issued an outperform rating and a $42.00 target price on the stock. Finally, Roth Capital set a $44.00 target price on RSP Permian and gave the company a buy rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $47.00.
RSP Permian (NYSE RSPP) opened at $37.29 on Wednesday. The company has a market capitalization of $5,785.70, a P/E ratio of 59.80, a P/E/G ratio of 1.79 and a beta of 2.15. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.35. RSP Permian has a 52-week low of $28.76 and a 52-week high of $46.92.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The firm had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. During the same period in the previous year, the company posted ($0.01) EPS. RSP Permian’s revenue for the quarter was up 115.5% on a year-over-year basis. analysts predict that RSP Permian will post 0.79 earnings per share for the current fiscal year.
In related news, VP James E. Mutrie sold 12,447 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $31.47, for a total transaction of $391,707.09. Following the completion of the transaction, the vice president now directly owns 38,005 shares in the company, valued at approximately $1,196,017.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $30.71, for a total value of $1,289,820.00. Following the transaction, the director now owns 8,136,851 shares of the company’s stock, valued at $249,882,694.21. The disclosure for this sale can be found here. Insiders sold a total of 180,447 shares of company stock valued at $6,020,757 over the last quarter. Company insiders own 15.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in RSP Permian by 11.8% during the 2nd quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock worth $321,513,000 after buying an additional 1,054,281 shares during the last quarter. Boston Partners grew its stake in RSP Permian by 0.9% during the 3rd quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock worth $254,606,000 after buying an additional 69,145 shares during the last quarter. FMR LLC grew its stake in RSP Permian by 5.9% during the 2nd quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock worth $175,023,000 after buying an additional 300,249 shares during the last quarter. Third Point LLC grew its stake in RSP Permian by 19.5% during the 3rd quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock worth $159,114,000 after buying an additional 750,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in RSP Permian by 38.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock worth $125,102,000 after buying an additional 1,073,137 shares during the last quarter. Hedge funds and other institutional investors own 83.77% of the company’s stock.
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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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