RSP Permian Inc (NYSE:RSPP) received a $65.00 target price from equities researchers at Roth Capital in a report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s target price would indicate a potential upside of 59.63% from the stock’s previous close.
A number of other research firms have also recently weighed in on RSPP. Drexel Hamilton reissued a “buy” rating and set a $51.00 price objective on shares of RSP Permian in a report on Wednesday, December 21st. Royal Bank of Canada reissued a “buy” rating and set a $52.00 price objective on shares of RSP Permian in a report on Tuesday, January 3rd. Guggenheim raised shares of RSP Permian from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Monday, December 19th. Wells Fargo & Co cut shares of RSP Permian from an “outperform” rating to a “market perform” rating in a report on Friday, December 16th. Finally, Scotiabank set a $54.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a report on Tuesday, February 28th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.07.
RSP Permian (NYSE:RSPP) traded down 1.25% during trading on Wednesday, reaching $40.21. 751,246 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $40.10 and a 200 day moving average price of $41.26. The firm’s market capitalization is $5.73 billion. RSP Permian has a 52 week low of $28.70 and a 52 week high of $46.92.
RSP Permian (NYSE:RSPP) last released its quarterly earnings data on Monday, February 27th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. RSP Permian had a negative net margin of 15.43% and a negative return on equity of 0.47%. The company had revenue of $122.93 million for the quarter, compared to analysts’ expectations of $122.84 million. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 67.2% on a year-over-year basis. Equities research analysts forecast that RSP Permian will post $0.94 earnings per share for the current fiscal year.
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In related news, VP William Huck sold 6,000 shares of RSP Permian stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $42.57, for a total value of $255,420.00. Following the transaction, the vice president now directly owns 347,423 shares in the company, valued at approximately $14,789,797.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $40.80, for a total transaction of $1,713,600.00. Following the completion of the transaction, the director now owns 8,355,451 shares in the company, valued at $340,902,400.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,000 shares of company stock worth $3,843,960. 23.50% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of RSPP. BNP Paribas Arbitrage SA raised its position in RSP Permian by 107.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,341 shares of the company’s stock worth $246,000 after buying an additional 3,289 shares during the period. 1st Global Advisors Inc. acquired a new stake in RSP Permian during the third quarter worth approximately $261,000. Monarch Partners Asset Management LLC increased its stake in RSP Permian by 77.6% in the third quarter. Monarch Partners Asset Management LLC now owns 378,441 shares of the company’s stock worth $14,676,000 after buying an additional 165,406 shares during the period. Great West Life Assurance Co. Can increased its stake in RSP Permian by 51.5% in the third quarter. Great West Life Assurance Co. Can now owns 10,001 shares of the company’s stock worth $387,000 after buying an additional 3,401 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in RSP Permian during the third quarter worth approximately $9,326,000. Hedge funds and other institutional investors own 63.34% 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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