RSP Permian, Inc. (RSPP) Rating Reiterated by Jefferies Group LLC

RSP Permian, Inc. (NYSE:RSPP)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group LLC in a note issued to investors on Tuesday. They currently have a $47.00 price target on the oil and natural gas company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 35.88% from the company’s previous close.

Several other research firms have also commented on RSPP. Williams Capital began coverage on shares of RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 price target on the stock. Stifel Nicolaus set a $43.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research report on Thursday, October 5th. Northland Securities restated a “buy” rating and set a $52.00 price target on shares of RSP Permian in a research report on Tuesday, September 26th. Royal Bank Of Canada restated a “buy” rating and set a $44.00 price target on shares of RSP Permian in a research report on Thursday, July 20th. Finally, Wolfe Research began coverage on shares of RSP Permian in a research report on Thursday, June 15th. They set an “outperform” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. RSP Permian has a consensus rating of “Buy” and an average price target of $47.39.

RSP Permian (RSPP) opened at 34.59 on Tuesday. The stock has a market cap of $5.49 billion, a PE ratio of 63.82 and a beta of 2.17. The company’s 50 day moving average is $32.29 and its 200-day moving average is $34.85. RSP Permian has a 1-year low of $28.76 and a 1-year high of $46.92.

RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million for the quarter, compared to analyst estimates of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm’s revenue was up 124.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) earnings per share. Equities research analysts forecast that RSP Permian will post $0.74 earnings per share for the current fiscal year.

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In other RSP Permian news, COO Zane W. Arrott sold 47,113 shares of RSP Permian stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the completion of the sale, the chief operating officer now directly owns 86,614 shares in the company, valued at $2,710,152.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian 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 sale, the director now owns 8,178,851 shares of the company’s stock, valued at $267,039,485.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 248,560 shares of company stock valued at $8,060,453. 15.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of RSP Permian by 11.8% during the second quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock valued at $321,513,000 after acquiring an additional 1,054,281 shares during the last quarter. BlackRock Inc. increased its position in shares of RSP Permian by 15,355.9% during the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock valued at $306,537,000 after acquiring an additional 7,351,042 shares during the last quarter. Boston Partners increased its position in shares of RSP Permian by 10.3% during the second quarter. Boston Partners now owns 7,291,558 shares of the oil and natural gas company’s stock valued at $235,299,000 after acquiring an additional 681,747 shares during the last quarter. FMR LLC increased its position in shares of RSP Permian by 5.9% during 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 acquiring an additional 300,249 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of RSP Permian by 38.3% during the second quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after acquiring an additional 1,073,137 shares during the last quarter. Institutional investors and hedge funds own 86.57% 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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