RSP Permian, Inc. (NYSE:RSPP) had its price objective decreased by Roth Capital from $64.50 to $44.00 in a research note issued to investors on Tuesday, July 25th. Roth Capital currently has a buy rating on the oil and natural gas company’s stock.
Several other research analysts also recently issued reports on RSPP. Scotiabank set a $51.00 price objective on shares of RSP Permian and gave the stock a buy rating in a research report on Monday, March 27th. Zacks Investment Research cut shares of RSP Permian from a buy rating to a hold rating in a research note on Saturday, April 8th. Goldman Sachs Group, Inc. (The) upgraded shares of RSP Permian from a neutral rating to a buy rating and set a $63.00 target price for the company in a research note on Tuesday, April 11th. Stifel Nicolaus initiated coverage on shares of RSP Permian in a research note on Wednesday, April 12th. They issued a buy rating and a $46.00 target price for the company. Finally, BMO Capital Markets restated a buy rating and issued a $50.00 target price on shares of RSP Permian in a research note on Wednesday, April 12th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $46.58.
RSP Permian (NYSE:RSPP) traded up 0.31% during mid-day trading on Tuesday, reaching $32.36. The company’s stock had a trading volume of 1,328,963 shares. The firm has a market cap of $5.13 billion, a PE ratio of 59.70 and a beta of 2.13. RSP Permian has a 12-month low of $29.67 and a 12-month high of $46.92. The company has a 50-day moving average price of $32.75 and a 200-day moving average price of $37.55.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company had revenue of $183.10 million for the quarter, compared to the consensus estimate of $185.01 million. During the same period last year, the firm posted ($0.04) EPS. RSP Permian’s revenue for the quarter was up 124.7% on a year-over-year basis. On average, equities research analysts expect that RSP Permian will post $0.72 earnings per share for the current year.
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In other news, Director Ted Collins, Jr. sold 21,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $32.65, for a total transaction of $685,650.00. Following the completion of the transaction, the director now owns 8,178,851 shares in the company, valued at $267,039,485.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Richard A. Kayne sold 17,250,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $38.78, for a total transaction of $668,955,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,418,000 shares of company stock worth $674,492,280. Corporate insiders own 15.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Third Point LLC raised its position in RSP Permian by 92.5% in the second quarter. Third Point LLC now owns 3,850,000 shares of the oil and natural gas company’s stock valued at $124,240,000 after buying an additional 1,850,000 shares in the last quarter. Virtu KCG Holdings LLC raised its position in RSP Permian by 294.0% in the second quarter. Virtu KCG Holdings LLC now owns 20,864 shares of the oil and natural gas company’s stock valued at $673,000 after buying an additional 15,569 shares in the last quarter. Sapience Investments LLC raised its position in RSP Permian by 49.9% in the second quarter. Sapience Investments LLC now owns 403,567 shares of the oil and natural gas company’s stock valued at $13,023,000 after buying an additional 134,430 shares in the last quarter. BP Capital Fund Advisors LLC raised its position in RSP Permian by 11.6% in the second quarter. BP Capital Fund Advisors LLC now owns 162,940 shares of the oil and natural gas company’s stock valued at $5,258,000 after buying an additional 16,899 shares in the last quarter. Finally, FMR LLC increased its stake in RSP Permian by 5.9% in the second quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after buying an additional 300,249 shares during the last quarter. Institutional investors and hedge funds own 77.43% 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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