RSP Permian Inc (RSPP) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of RSP Permian Inc (NYSE:RSPP) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Other analysts also recently issued research reports about the stock. BMO Capital Markets set a $42.00 target price on shares of RSP Permian and gave the company a buy rating in a report on Tuesday, August 8th. Jefferies Group LLC reiterated a buy rating and issued a $46.00 target price on shares of RSP Permian in a report on Thursday, July 6th. Williams Capital set a $47.00 target price on shares of RSP Permian and gave the company a buy rating in a report on Tuesday, August 8th. Roth Capital lowered their target price on shares of RSP Permian from $64.50 to $44.00 and set a buy rating for the company in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $44.00 target price on shares of RSP Permian in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. RSP Permian presently has an average rating of Buy and an average target price of $46.67.

RSP Permian (RSPP) opened at $35.23 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.93. RSP Permian has a 52 week low of $28.76 and a 52 week high of $46.92. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 82.55, a PEG ratio of 1.48 and a beta of 2.15.

RSP Permian (NYSE:RSPP) last announced its 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 124.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) earnings per share. analysts forecast that RSP Permian will post 0.78 EPS for the current year.

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In other RSP Permian news, VP James E. Mutrie sold 12,447 shares of the stock in a transaction dated Thursday, August 31st. The shares were 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 owns 38,005 shares in the company, valued at $1,196,017.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven D. Gray bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were acquired at an average price of $29.99 per share, with a total value of $299,900.00. Following the transaction, the chief executive officer now directly owns 311,688 shares of the company’s stock, valued at $9,347,523.12. The disclosure for this purchase can be found here. Insiders have sold 248,560 shares of company stock valued at $8,060,453 in the last quarter. Company insiders own 15.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in shares of RSP Permian by 65.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after acquiring an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. bought a new position in shares of RSP Permian in the second quarter valued at approximately $210,000. Sentry Investment Management LLC bought a new position in shares of RSP Permian in the second quarter valued at approximately $210,000. GSA Capital Partners LLP bought a new position in shares of RSP Permian in the second quarter valued at approximately $225,000. Finally, Teton Advisors Inc. bought a new position in shares of RSP Permian in the third quarter valued at approximately $256,000. Institutional investors own 86.60% 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.

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