RSP Permian (RSPP) Receives “Buy” Rating from Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their buy rating on shares of RSP Permian (NYSE:RSPP) in a report published on Tuesday. The firm currently has a $50.00 price objective on the oil and natural gas company’s stock.
Other equities research analysts have also issued reports about the company. Williams Capital decreased their price target on RSP Permian from $45.00 to $43.00 and set a buy rating on the stock in a research report on Wednesday, October 18th. Northland Securities restated a buy rating and set a $52.00 price target on shares of RSP Permian in a research report on Wednesday, November 1st. KeyCorp restated a buy rating and set a $49.00 price target on shares of RSP Permian in a research report on Tuesday, October 24th. Zacks Investment Research upgraded RSP Permian from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Wednesday, October 11th. Finally, Jefferies Group restated a buy rating and set a $47.00 price target on shares of RSP Permian in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. RSP Permian presently has an average rating of Buy and a consensus target price of $46.09.
RSP Permian (RSPP) traded down $1.20 during midday trading on Tuesday, reaching $40.74. The company had a trading volume of 2,291,600 shares, compared to its average volume of 1,770,000. The company has a market cap of $6,460.00, a price-to-earnings ratio of 67.90, a PEG ratio of 1.03 and a beta of 2.15. RSP Permian has a 1-year low of $28.76 and a 1-year high of $44.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.
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 Zacks’ consensus estimate of $0.18. The business had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. RSP Permian’s revenue for the quarter was up 115.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) EPS. research analysts anticipate that RSP Permian will post 0.81 earnings per share for the current year.
In related news, CFO Scott K. Mcneill sold 25,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $37.05, for a total transaction of $926,250.00. Following the sale, the chief financial officer now owns 94,477 shares of the company’s stock, valued at approximately $3,500,372.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $41.47, for a total value of $1,741,740.00. Following the sale, the director now directly owns 7,968,851 shares in the company, valued at approximately $330,468,250.97. The disclosure for this sale can be found here. In the last three months, insiders sold 170,973 shares of company stock worth $6,414,124. 15.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised 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 period. Boston Partners raised 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 period. FMR LLC raised 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 period. Third Point LLC raised 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 period. Finally, Westwood Holdings Group Inc. raised 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 period. 86.19% of the stock is currently owned by institutional investors and hedge funds.
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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.
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