A number of other analysts have also recently commented on the company. Wells Fargo & Co. began coverage on RSP Permian in a research report on Wednesday, August 24th. They set an outperform rating and a $16.74 target price on the stock. FBR & Co began coverage on RSP Permian in a research report on Tuesday, September 13th. They set an outperform rating on the stock. Roth Capital reiterated 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 set an equal weight rating and a $43.00 target price on the stock. Finally, Canaccord Genuity reiterated a buy rating and set a $34.00 target price on shares of RSP Permian in a research report on Wednesday, July 6th. Seven research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $36.66.
RSP Permian (NYSE:RSPP) opened at 37.37 on Monday. The stock’s market cap is $3.80 billion. RSP Permian has a 12-month low of $16.74 and a 12-month high of $40.74. The company’s 50-day moving average price is $38.33 and its 200-day moving average price is $34.01.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.04) earnings per share for the quarter, meeting 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 company had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. During the same period last year, the firm earned $0.16 earnings per share. RSP Permian’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that RSP Permian will post ($0.19) EPS for the current fiscal year.
In other RSP Permian news, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $33.77, for a total value of $709,170.00. Following the completion of the transaction, the director now directly owns 8,590,088 shares in the company, valued at approximately $290,087,271.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth V. Huseman acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were purchased at an average price of $37.76 per share, with a total value of $75,520.00. Following the completion of the acquisition, the director now owns 19,510 shares in the company, valued at $736,697.60. The disclosure for this purchase can be found here. 23.50% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. increased 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 worth $50,052,000 after buying an additional 23,982 shares during the last quarter. BlackRock Inc. increased its stake in RSP Permian by 15.0% in the first quarter. BlackRock Inc. now owns 27,721 shares of the company’s stock worth $806,000 after buying an additional 3,608 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in RSP Permian during the first quarter worth approximately $1,942,000. Renaissance Technologies LLC increased 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 worth $12,812,000 after buying an additional 111,800 shares during the last quarter. Finally, Moody Aldrich Partners LLC increased 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 worth $1,750,000 after buying an additional 31,385 shares during 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.
Receive News & Ratings for RSP Permian Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RSP Permian Inc. and related companies with MarketBeat.com's FREE daily email newsletter.