Robert W. Baird Initiates Coverage on RSP Permian (RSPP)

Robert W. Baird started coverage on shares of RSP Permian (NYSE:RSPP) in a research note issued to investors on Tuesday. The brokerage set an “outperform” rating and a $46.00 price target on the oil and natural gas company’s stock. Robert W. Baird’s target price suggests a potential upside of 21.12% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Piper Jaffray Companies decreased their price target on shares of RSP Permian from $49.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Stifel Nicolaus set a $43.00 price target on shares of RSP Permian and gave the company a “buy” rating in a research note on Thursday, October 5th. BidaskClub downgraded shares of RSP Permian from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Northland Securities set a $52.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research note on Monday, August 21st. Finally, Scotiabank reissued a “buy” rating and issued a $43.00 price objective on shares of RSP Permian in a research note on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. RSP Permian presently has an average rating of “Buy” and an average target price of $45.74.

Shares of RSP Permian (NYSE:RSPP) opened at $37.98 on Tuesday. 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 has a 12 month low of $28.76 and a 12 month high of $46.92. The firm has a market cap of $5,874.52, a P/E ratio of 60.72, a PEG ratio of 1.75 and a beta of 2.15.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The firm had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was up 115.5% on a year-over-year basis. sell-side analysts expect that RSP Permian will post 0.8 EPS for the current fiscal year.

In other news, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $35.61, for a total transaction of $1,495,620.00. Following the transaction, the director now directly owns 8,052,851 shares of the company’s stock, valued at $286,762,024.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total value of $730,380.00. Following the transaction, the director now directly owns 8,094,851 shares in the company, valued at $281,538,917.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,973 shares of company stock worth $6,861,844. Insiders own 15.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Fieldpoint Private Securities LLC purchased a new stake in shares of RSP Permian during the third quarter valued at $233,000. California Public Employees Retirement System grew its holdings in shares of RSP Permian by 2.4% during the third quarter. California Public Employees Retirement System now owns 163,700 shares of the oil and natural gas company’s stock valued at $5,662,000 after buying an additional 3,900 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of RSP Permian during the third quarter valued at $411,000. 3G Capital Partners LP grew its holdings in shares of RSP Permian by 42.9% during the third quarter. 3G Capital Partners LP now owns 1,000,000 shares of the oil and natural gas company’s stock valued at $34,590,000 after buying an additional 300,000 shares during the last quarter. Finally, Highbridge Capital Management LLC grew its holdings in shares of RSP Permian by 1,344.6% during the third quarter. Highbridge Capital Management LLC now owns 111,115 shares of the oil and natural gas company’s stock valued at $3,843,000 after buying an additional 103,423 shares during the last quarter. 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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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