Several other analysts have also recently issued reports on RSPP. KeyCorp increased their target price on RSP Permian from $43.00 to $45.00 and gave the company an overweight rating in a research report on Monday, August 22nd. Nomura reaffirmed a buy rating and set a $17.00 target price on shares of RSP Permian in a research report on Monday, September 26th. Bank of America Corp. reaffirmed a buy rating and set a $41.00 target price (up previously from $35.00) on shares of RSP Permian in a research report on Tuesday, June 21st. Piper Jaffray Cos. increased their target price on RSP Permian from $38.00 to $40.00 and gave the company an overweight rating in a research report on Wednesday, July 13th. Finally, Royal Bank Of Canada increased their target price on RSP Permian from $41.00 to $46.00 and gave the company an outperform rating in a research report on Tuesday, August 9th. Six analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $39.21.
RSP Permian (NYSE:RSPP) traded down 2.23% on Monday, hitting $41.17. The stock had a trading volume of 286,919 shares. RSP Permian has a 52-week low of $16.74 and a 52-week high of $43.30. The company has a 50-day moving average price of $38.86 and a 200 day moving average price of $35.12. The firm’s market cap is $4.18 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 consensus estimate of ($0.04). The company had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. RSP Permian’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Equities analysts forecast that RSP Permian will post ($0.19) earnings per share for the current fiscal year.
In other news, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $33.77, for a total transaction of $709,170.00. Following 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 SEC, which is available at the SEC website. Also, Director Kenneth V. Huseman bought 2,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were bought at an average price of $37.76 per share, for a total transaction 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. Insiders own 23.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of RSPP. BOKF NA bought a new position in shares of RSP Permian during the second quarter valued at $102,000. BNP Paribas Arbitrage SA boosted its position in shares of 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 in the last quarter. Comerica Bank bought a new position in shares of RSP Permian during the second quarter valued at $205,000. Finally, Jane Street Group LLC bought a new position in shares of RSP Permian during the second quarter valued at $208,000. Institutional investors and hedge funds own 86.35% 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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