RSP Permian, Inc. (NYSE:RSPP)‘s stock had its “buy” rating reaffirmed by BMO Capital Markets in a report issued on Tuesday. They presently have a $38.00 price objective on the oil and natural gas company’s stock. BMO Capital Markets’ target price indicates a potential upside of 19.72% from the company’s previous close.
A number of other analysts have also recently weighed in on the company. Morgan Stanley lowered their price objective on RSP Permian from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday. BidaskClub cut RSP Permian from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Williams Capital set a $47.00 price objective on RSP Permian and gave the stock a “buy” rating in a research report on Tuesday. Roth Capital lowered their price objective on RSP Permian from $64.50 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 price objective on shares of RSP Permian in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $47.25.
RSP Permian (NYSE:RSPP) traded up 3.15% on Tuesday, hitting $31.74. The stock had a trading volume of 5,700,931 shares. The company has a 50-day moving average price of $32.58 and a 200 day moving average price of $37.92. The firm has a market cap of $5.03 billion, a PE ratio of 123.50 and a beta of 2.13. RSP Permian has a 52-week low of $29.67 and a 52-week high of $46.92.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $185.01 million. RSP Permian had a return on equity of 1.18% and a net margin of 6.73%. The business’s quarterly revenue was up 124.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) EPS. Equities analysts forecast that RSP Permian will post $0.73 earnings per share for the current fiscal year.
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In other news, Director Ted Collins, Jr. sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.21, for a total transaction of $676,410.00. Following the sale, the director now directly owns 8,220,851 shares in the company, valued at approximately $264,793,610.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $32.17, for a total value of $1,351,140.00. Following the sale, the director now owns 8,220,851 shares in the company, valued at $264,464,776.67. The disclosure for this sale can be found here. Insiders have sold a total of 17,397,000 shares of company stock worth $674,135,910 over the last 90 days. Insiders own 15.00% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in RSP Permian by 16.4% in the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock worth $369,096,000 after buying an additional 1,256,249 shares during the period. BlackRock Inc. boosted its stake in RSP Permian by 15,355.9% in the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock worth $306,537,000 after buying an additional 7,351,042 shares during the period. Boston Partners boosted its stake in RSP Permian by 10.3% in the second quarter. Boston Partners now owns 7,291,558 shares of the oil and natural gas company’s stock worth $235,299,000 after buying an additional 681,747 shares during the period. State Street Corp boosted its stake in RSP Permian by 30.2% in the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock worth $149,756,000 after buying an additional 838,188 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in RSP Permian by 66.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock worth $116,142,000 after buying an additional 1,118,888 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.
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.
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