RSP Permian (RSPP) Given a $47.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a $47.00 target price on RSP Permian (NYSE:RSPP) in a report released on Wednesday. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird began coverage on RSP Permian in a research report on Tuesday. They set an outperform rating and a $46.00 price target for the company. Jefferies Group set a $48.00 price target on RSP Permian and gave the stock a buy rating in a research report on Wednesday. Piper Jaffray Companies dropped their price target on RSP Permian from $49.00 to $37.00 and set an overweight rating for the company in a research report on Monday, September 18th. Stifel Nicolaus set a $43.00 price target on RSP Permian and gave the stock a buy rating in a research report on Thursday, October 5th. Finally, BidaskClub downgraded RSP Permian from a sell rating to a strong sell rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $45.74.

Shares of RSP Permian (NYSE:RSPP) traded up $0.94 during mid-day trading on Wednesday, reaching $37.98. The company had a trading volume of 3,958,300 shares, compared to its average volume of 2,027,757. The firm has a market capitalization of $5,874.52, a PE ratio of 60.72, a PEG ratio of 1.75 and a beta of 2.15. RSP Permian has a 52-week low of $28.76 and a 52-week high of $46.92. 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 (NYSE:RSPP) last issued its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $201.34 million. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. RSP Permian’s revenue was up 115.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. sell-side analysts anticipate that RSP Permian will post 0.8 EPS for the current year.

In other news, VP Erik B. Daugbjerg sold 19,973 shares of RSP Permian stock in a transaction on Monday, December 4th. The stock was sold at an average price of $37.27, for a total value of $744,393.71. Following the completion of the sale, the vice president now owns 203,598 shares of the company’s stock, valued at $7,588,097.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott K. Mcneill sold 25,000 shares of RSP Permian stock in a transaction on Monday, December 11th. The shares were sold at an average price of $37.05, for a total value of $926,250.00. Following the completion of the sale, the chief financial officer now directly owns 94,477 shares of the company’s stock, valued at approximately $3,500,372.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,973 shares of company stock valued at $6,861,844. Company insiders own 15.00% of the company’s stock.

Several large investors have recently made changes to their positions in RSPP. Fieldpoint Private Securities LLC purchased a new stake in RSP Permian during the third quarter valued at about $233,000. California Public Employees Retirement System lifted its stake 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 worth $5,662,000 after purchasing an additional 3,900 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of RSP Permian during the third quarter worth about $411,000. 3G Capital Partners LP lifted its stake 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 worth $34,590,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Highbridge Capital Management LLC lifted its stake 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 worth $3,843,000 after purchasing an additional 103,423 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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