Zacks: Brokerages Anticipate RSP Permian, Inc. (RSPP) to Post $0.17 Earnings Per Share

Wall Street analysts forecast that RSP Permian, Inc. (NYSE:RSPP) will post $0.17 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for RSP Permian’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.25. RSP Permian reported earnings of ($0.01) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1,800%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 7th.

On average, analysts expect that RSP Permian will report full-year earnings of $0.75 per share for the current fiscal year, with EPS estimates ranging from $0.64 to $0.98. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.14 per share, with EPS estimates ranging from $0.49 to $1.86. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow RSP Permian.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $183.10 million for the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The company’s revenue was up 124.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share.

RSPP has been the topic of several research analyst reports. TheStreet upgraded shares of RSP Permian from a “c” rating to a “b” rating in a research report on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and set a $46.00 target price on shares of RSP Permian in a research report on Thursday, July 6th. Scotiabank set a $43.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $38.00 target price on shares of RSP Permian and gave the stock a “buy” rating in a research report on Monday, June 26th. Finally, Williams Capital initiated coverage on shares of RSP Permian in a research report on Monday, June 12th. They set a “buy” rating and a $47.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. RSP Permian presently has a consensus rating of “Buy” and an average target price of $47.67.

RSP Permian (NYSE:RSPP) opened at 30.10 on Wednesday. The stock has a market capitalization of $4.77 billion, a P/E ratio of 55.54 and a beta of 2.15. RSP Permian has a 12-month low of $28.76 and a 12-month high of $46.92. The firm’s 50-day moving average is $31.68 and its 200 day moving average is $35.82.

In other news, Director Ted Collins, Jr. sold 21,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $31.15, for a total transaction of $654,150.00. Following the completion of the transaction, the director now owns 8,136,851 shares of the company’s stock, valued at approximately $253,462,908.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP James E. Mutrie sold 12,447 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $31.47, for a total transaction of $391,707.09. Following the transaction, the vice president now directly owns 38,005 shares of the company’s stock, valued at approximately $1,196,017.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 248,560 shares of company stock valued at $7,898,543. Corporate insiders own 15.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of RSPP. BlackRock Inc. increased its stake in shares of RSP Permian by 15,355.9% during the 1st quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock valued at $306,537,000 after acquiring an additional 7,351,042 shares during the last quarter. Third Point LLC increased its stake in shares of RSP Permian by 92.5% during the 2nd quarter. Third Point LLC now owns 3,850,000 shares of the oil and natural gas company’s stock valued at $124,240,000 after acquiring an additional 1,850,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of RSP Permian by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock valued at $369,096,000 after acquiring an additional 1,256,249 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of RSP Permian by 66.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock valued at $116,142,000 after acquiring an additional 1,118,888 shares during the last quarter. Finally, State Street Corp increased its stake in shares of RSP Permian by 30.2% during the 1st quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock valued at $149,756,000 after acquiring an additional 838,188 shares during the last quarter. 86.60% of the stock is owned by institutional investors.

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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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