Shares of RSP Permian, Inc. (NYSE:RSPP) have been given a consensus rating of “Buy” by the thirty-two research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, one has given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $47.84.
A number of brokerages have recently commented on RSPP. Barclays PLC reaffirmed an “overweight” rating and set a $44.00 price objective on shares of RSP Permian in a research note on Wednesday, April 26th. Royal Bank Of Canada set a $51.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Scotiabank set a $43.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a research note on Saturday, July 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $38.00 price objective on shares of RSP Permian in a research note on Tuesday. Finally, Goldman Sachs Group, Inc. (The) raised shares of RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 price objective on the stock in a research note on Wednesday.
Shares of RSP Permian (NYSE:RSPP) opened at 32.26 on Friday. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 59.52 and a beta of 2.13. The company’s 50-day moving average is $32.71 and its 200 day moving average is $37.62. RSP Permian has a 12 month low of $29.67 and a 12 month high of $46.92.
RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company had revenue of $183.10 million for the quarter, compared to the consensus estimate of $185.01 million. During the same quarter in the prior year, the company earned ($0.04) EPS. RSP Permian’s quarterly revenue was up 124.7% on a year-over-year basis. On average, equities research analysts anticipate that RSP Permian will post $0.72 earnings per share for the current year.
In other news, major shareholder Richard A. Kayne sold 17,250,000 shares of RSP Permian stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $38.78, for a total transaction of $668,955,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Steven D. Gray purchased 15,000 shares of RSP Permian stock in a transaction dated Thursday, June 1st. The shares were bought at an average price of $36.19 per share, for a total transaction of $542,850.00. Following the acquisition, the chief executive officer now owns 301,688 shares in the company, valued at $10,918,088.72. The disclosure for this purchase can be found here. Insiders sold a total of 17,355,000 shares of company stock worth $672,431,130 in the last 90 days. 15.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in RSP Permian by 65.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after buying an additional 1,705 shares in the last quarter. 1st Global Advisors Inc. raised its position 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 in the last quarter. Two Sigma Securities LLC bought a new position in RSP Permian during the first quarter valued at approximately $279,000. Lucas Capital Management bought a new position in RSP Permian during the second quarter valued at approximately $290,000. Finally, Teacher Retirement System of Texas raised its position in RSP Permian by 19.5% in the second quarter. Teacher Retirement System of Texas now owns 9,670 shares of the oil and natural gas company’s stock valued at $312,000 after buying an additional 1,579 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.
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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.
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