RSP Permian, Inc. (NYSE:RSPP) Given a $42.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $42.00 price target on RSP Permian, Inc. (NYSE:RSPP) in a report issued on Tuesday, August 8th. The firm currently has a buy rating on the oil and natural gas company’s stock.

RSPP has been the subject of several other reports. Wolfe Research started coverage on RSP Permian in a report on Thursday, June 15th. They issued an outperform rating and a $45.00 price objective for the company. Credit Suisse Group started coverage on RSP Permian in a report on Thursday, June 1st. They issued an outperform rating and a $59.00 price objective for the company. Royal Bank Of Canada restated a buy rating and issued a $44.00 price objective on shares of RSP Permian in a report on Thursday, July 20th. Williams Capital initiated coverage on shares of RSP Permian in a report on Monday, June 12th. They issued a buy rating and a $47.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of RSP Permian from $45.00 to $41.00 and set an overweight rating for the company in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $46.56.

Shares of RSP Permian (NYSE:RSPP) traded up 2.35% on Tuesday, hitting $31.32. 1,543,946 shares of the company traded hands. The firm’s 50-day moving average is $32.65 and its 200 day moving average is $37.14. RSP Permian has a 1-year low of $29.67 and a 1-year high of $46.92. The firm has a market capitalization of $4.97 billion, a P/E ratio of 57.79 and a beta of 2.13.

RSP Permian (NYSE:RSPP) last released its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The firm’s quarterly revenue was up 124.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. On average, analysts anticipate that RSP Permian will post $0.72 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://www.com-unik.info/2017/08/19/rsp-permians-nyserspp-buy-rating-reaffirmed-at-bmo-capital-markets-updated.html.

In other news, major shareholder Richard A. Kayne sold 17,250,000 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $38.78, for a total transaction of $668,955,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Zane W. Arrott sold 47,113 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $31.29, for a total value of $1,474,165.77. Following the transaction, the chief operating officer now owns 86,614 shares of the company’s stock, valued at $2,710,152.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,465,113 shares of company stock valued at $675,966,446. 15.00% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in RSP Permian by 15,355.9% in the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock worth $306,537,000 after buying an additional 7,351,042 shares in the last quarter. Third Point LLC raised its stake 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 worth $124,240,000 after buying an additional 1,850,000 shares in the last quarter. Vanguard Group Inc. raised its stake in RSP Permian by 16.4% in the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock worth $369,096,000 after buying an additional 1,256,249 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in RSP Permian by 66.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock worth $116,142,000 after buying an additional 1,118,888 shares in the last quarter. Finally, State Street Corp raised its stake in RSP Permian by 30.2% in the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock worth $149,756,000 after buying an additional 838,188 shares in the last quarter. Institutional investors own 78.60% of the company’s stock.

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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

What are top analysts saying about RSP Permian Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for RSP Permian Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit