UBS Group assumed coverage on shares of RSP Permian (NYSE:RSPP) in a research note issued to investors on Wednesday morning, www.benzinga.com reports. The firm issued a buy rating and a $50.00 price objective on the oil and natural gas company’s stock.
A number of other equities research analysts have also issued reports on the company. BMO Capital Markets reiterated a buy rating and issued a $51.00 target price on shares of RSP Permian in a research note on Thursday, January 11th. Northland Securities set a $48.00 price target on RSP Permian and gave the company a buy rating in a report on Monday, December 11th. Credit Suisse Group started coverage on RSP Permian in a report on Monday, December 11th. They issued an outperform rating and a $44.00 price target for the company. Zacks Investment Research downgraded RSP Permian from a buy rating to a hold rating in a report on Friday, November 10th. Finally, Scotiabank reissued a buy rating and issued a $43.00 price target on shares of RSP Permian in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $49.39.
Shares of RSP Permian (RSPP) opened at $41.34 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.35. RSP Permian has a 12 month low of $28.76 and a 12 month high of $43.35. The stock has a market capitalization of $6,591.29, a PE ratio of 49.81, a PEG ratio of 0.55 and a beta of 1.92.
In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $41.47, for a total transaction of $1,741,740.00. Following the transaction, the director now owns 7,968,851 shares of the company’s stock, valued at approximately $330,468,250.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Wallace Family Partnership, Lp sold 29,877 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $42.58, for a total value of $1,272,162.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,500 shares of company stock worth $5,327,283. 15.00% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in RSPP. American International Group Inc. acquired a new stake in shares of RSP Permian during the 4th quarter worth approximately $119,000. Cerebellum GP LLC acquired a new stake in shares of RSP Permian during the 4th quarter worth approximately $130,000. Cadence Capital Management LLC acquired a new stake in shares of RSP Permian during the 4th quarter worth approximately $206,000. CIBC Asset Management Inc acquired a new stake in shares of RSP Permian during the 4th quarter worth approximately $217,000. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of RSP Permian during the 3rd quarter worth approximately $233,000. Institutional investors and hedge funds own 90.32% of the company’s stock.
About RSP Permian
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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