RSP Permian Inc. (NYSE:RSPP)‘s stock had its “buy” rating reiterated by stock analysts at Nomura in a research report issued to clients and investors on Monday. They currently have a $48.00 target price on the stock. Nomura’s price target indicates a potential upside of 13.74% from the company’s previous close.
RSPP has been the subject of a number of other reports. Roth Capital reissued a “buy” rating on shares of RSP Permian in a research report on Tuesday, July 12th. Morgan Stanley began coverage on RSP Permian in a research report on Thursday, July 21st. They issued an “equal weight” rating and a $43.00 price target for the company. RBC Capital Markets set a $46.00 price target on RSP Permian and gave the company a “buy” rating in a research report on Tuesday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $34.00 price target on shares of RSP Permian in a research report on Wednesday, July 6th. Finally, Piper Jaffray Cos. lifted their price target on RSP Permian from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, July 13th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.92.
Shares of RSP Permian (NYSE:RSPP) remained flat at $42.20 during trading on Monday. The stock had a trading volume of 1,048,974 shares. RSP Permian has a 52-week low of $16.74 and a 52-week high of $43.30. The company’s market capitalization is $4.29 billion. The stock’s 50-day moving average is $38.79 and its 200-day moving average is $34.94.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The business earned $81.50 million during the quarter, compared to the consensus estimate of $71.12 million. During the same period last year, the business posted $0.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that RSP Permian will post ($0.19) EPS for the current year.
In other news, VP William Huck sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $39.79, for a total value of $238,740.00. Following the sale, the vice president now directly owns 369,837 shares of the company’s stock, valued at approximately $14,715,814.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $34.04, for a total value of $1,429,680.00. Following the completion of the sale, the director now directly owns 8,590,088 shares in the company, valued at $292,406,595.52. The disclosure for this sale can be found here. Company insiders own 23.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BOKF NA bought a new stake in shares of RSP Permian during the second quarter worth approximately $102,000. BNP Paribas Arbitrage SA boosted its position in RSP Permian by 50,766.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,052 shares of the company’s stock valued at $106,000 after buying an additional 3,046 shares during the period. Tower Research Capital LLC TRC boosted its position in RSP Permian by 3,330.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,459 shares of the company’s stock valued at $156,000 after buying an additional 4,329 shares during the period. Comerica Bank acquired a new position in RSP Permian during the second quarter valued at about $205,000. Finally, Jane Street Group LLC acquired a new position in RSP Permian during the second quarter valued at about $208,000. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
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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