RSP Permian, Inc. (RSPP) Given Average Recommendation of “Buy” by Brokerages

Shares of RSP Permian, Inc. (NYSE:RSPP) have earned a consensus recommendation of “Buy” from the twenty-nine brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $50.57.

RSPP has been the topic of a number of recent research reports. Scotiabank set a $54.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a report on Tuesday, February 28th. Credit Suisse Group initiated coverage on shares of RSP Permian in a report on Thursday, June 1st. They set an “outperform” rating and a $59.00 price target on the stock. Zacks Investment Research lowered shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Saturday, April 8th. BMO Capital Markets reiterated a “buy” rating and set a $50.00 price target on shares of RSP Permian in a report on Wednesday, April 12th. Finally, Deutsche Bank AG cut their price target on shares of RSP Permian to $52.00 and set a “buy” rating on the stock in a report on Tuesday, March 7th.

In other RSP Permian news, CEO Steven D. Gray bought 15,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was bought at an average cost of $36.19 per share, with a total value of $542,850.00. Following the completion of the transaction, the chief executive officer now directly owns 301,688 shares in the company, valued at approximately $10,918,088.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Huck sold 6,000 shares of the business’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $41.17, for a total transaction of $247,020.00. Following the sale, the vice president now directly owns 334,452 shares of the company’s stock, valued at $13,769,388.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,397,000 shares of company stock valued at $674,652,100. Insiders own 23.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. 1st Global Advisors Inc. increased its stake in RSP Permian by 1.9% in the first quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 121 shares during the last quarter. Teacher Retirement System of Texas increased its stake in RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock valued at $335,000 after buying an additional 331 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in RSP Permian by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,236 shares of the oil and natural gas company’s stock valued at $1,708,000 after buying an additional 450 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in RSP Permian by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 58,530 shares of the oil and natural gas company’s stock valued at $2,425,000 after buying an additional 598 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. increased its stake in RSP Permian by 3.1% in the first quarter. Adams Diversified Equity Fund Inc. now owns 20,000 shares of the oil and natural gas company’s stock valued at $829,000 after buying an additional 600 shares during the last quarter. 77.54% of the stock is owned by institutional investors.

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RSP Permian (RSPP) opened at 30.62 on Tuesday. The firm has a market cap of $4.86 billion, a P/E ratio of 119.14 and a beta of 2.11. RSP Permian has a 12-month low of $30.04 and a 12-month high of $46.92. The firm’s 50-day moving average price is $37.33 and its 200 day moving average price is $40.55.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $169.93 million for the quarter, compared to analyst estimates of $159.81 million. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. Analysts forecast that RSP Permian will post $0.98 earnings per share for the current fiscal year.

RSP Permian Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RSPP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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