RSP Permian, Inc. (NYSE:RSPP)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group LLC in a note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $47.00 target price on the oil and natural gas company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 38.24% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Williams Capital started coverage on shares of RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $44.00 target price on shares of RSP Permian in a research report on Thursday, July 20th. Bank of America Corporation started coverage on shares of RSP Permian in a research report on Wednesday, July 19th. They set a “buy” rating and a $45.00 target price on the stock. Scotiabank set a $43.00 target price on shares of RSP Permian and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, BMO Capital Markets set a $38.00 target price on shares of RSP Permian and gave the company a “buy” rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. RSP Permian currently has a consensus rating of “Buy” and a consensus target price of $47.48.
Shares of RSP Permian (RSPP) traded up 2.103% during trading on Tuesday, hitting $34.715. 1,140,585 shares of the company traded hands. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 64.050 and a beta of 2.17. RSP Permian has a 52 week low of $28.76 and a 52 week high of $46.92. The company has a 50 day moving average price of $32.05 and a 200 day moving average price of $34.88.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. During the same quarter last year, the business posted ($0.04) EPS. The firm’s revenue for the quarter was up 124.7% on a year-over-year basis. On average, analysts expect that RSP Permian will post $0.74 earnings per share for the current year.
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In related news, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $34.74, for a total value of $1,459,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total transaction of $730,380.00. Following the completion of the sale, the director now owns 8,094,851 shares of the company’s stock, valued at $281,538,917.78. The disclosure for this sale can be found here. Insiders sold a total of 248,560 shares of company stock valued at $8,060,453 over the last quarter. 15.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in RSP Permian by 65.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after purchasing an additional 1,705 shares in the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in RSP Permian in the 2nd quarter worth approximately $210,000. Sentry Investment Management LLC acquired a new stake in RSP Permian in the 2nd quarter worth approximately $210,000. GSA Capital Partners LLP acquired a new stake in RSP Permian in the 2nd quarter worth approximately $225,000. Finally, Two Sigma Securities LLC acquired a new stake in RSP Permian in the 1st quarter worth approximately $279,000. Institutional investors own 86.57% 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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