RSP Permian Inc. (NYSE:RSPP)‘s stock had its “buy” rating reissued by research analysts at Nomura in a research report issued on Monday. They presently have a $17.00 price target on the stock. Nomura’s target price indicates a potential downside of 50.48% from the stock’s previous close.
A number of other analysts have also recently issued reports on RSPP. Deutsche Bank AG reissued a “buy” rating on shares of RSP Permian in a research note on Thursday, June 2nd. Jefferies Group reissued a “buy” rating and issued a $42.00 price objective (up from $38.00) on shares of RSP Permian in a research note on Wednesday, June 8th. Wunderlich raised their target price on shares of RSP Permian from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Imperial Capital assumed coverage on shares of RSP Permian in a research note on Wednesday, June 15th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $41.00 target price (up from $35.00) on shares of RSP Permian in a research note on Tuesday, June 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.66.
RSP Permian (NYSE:RSPP) opened at 34.33 on Monday. RSP Permian has a 52-week low of $16.74 and a 52-week high of $40.74. The stock’s 50 day moving average is $38.35 and its 200-day moving average is $33.99. The stock’s market capitalization is $3.49 billion.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The firm earned $81.50 million during the quarter, compared to analysts’ expectations of $71.12 million. RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 earnings per share. Equities research analysts anticipate that RSP Permian will post ($0.18) EPS for the current fiscal year.
In other news, VP William Huck sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $38.76, for a total value of $232,560.00. Following the completion of the sale, the vice president now owns 387,837 shares in the company, valued at approximately $15,032,562.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $34.04, for a total transaction of $1,429,680.00. Following the completion of the sale, the director now owns 8,590,088 shares of the company’s stock, valued at approximately $292,406,595.52. The disclosure for this sale can be found here. 23.50% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of RSPP. BlackRock Institutional Trust Company N.A. raised its stake in RSP Permian by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,723,550 shares of the company’s stock valued at $50,052,000 after buying an additional 23,982 shares in the last quarter. BlackRock Inc. raised its stake in RSP Permian by 15.0% in the first quarter. BlackRock Inc. now owns 27,721 shares of the company’s stock valued at $806,000 after buying an additional 3,608 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in RSP Permian during the first quarter valued at approximately $1,942,000. Renaissance Technologies LLC raised its stake in RSP Permian by 33.9% in the first quarter. Renaissance Technologies LLC now owns 441,200 shares of the company’s stock valued at $12,812,000 after buying an additional 111,800 shares in the last quarter. Finally, Moody Aldrich Partners LLC raised its stake in RSP Permian by 167.1% in the second quarter. Moody Aldrich Partners LLC now owns 50,170 shares of the company’s stock valued at $1,750,000 after buying an additional 31,385 shares in the last quarter. Institutional investors and hedge funds own 86.36% of the company’s stock.
About RSP Permian
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
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