RSP Permian (RSPP) Downgraded by ValuEngine to “Sell”

RSP Permian (NYSE:RSPP) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Saturday.

RSPP has been the topic of a number of other research reports. Royal Bank of Canada lowered RSP Permian from an “outperform” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Thursday, March 29th. Zacks Investment Research lowered RSP Permian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Jefferies Group set a $51.00 price target on RSP Permian and gave the company a “buy” rating in a research report on Monday, March 19th. Credit Suisse Group set a $51.00 price target on RSP Permian and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 price target (up previously from $45.00) on shares of RSP Permian in a research report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $50.41.

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RSPP opened at $41.47 on Friday. RSP Permian has a 12-month low of $28.76 and a 12-month high of $47.17. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.35. The stock has a market cap of $7,048.90, a P/E ratio of 50.57, a PEG ratio of 0.60 and a beta of 1.67.

RSP Permian (NYSE:RSPP) last posted its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. RSP Permian had a return on equity of 3.07% and a net margin of 28.88%. The firm had revenue of $249.02 million for the quarter, compared to analyst estimates of $246.71 million. equities analysts forecast that RSP Permian will post 2.23 earnings per share for the current year.

In other news, insider Wallace Family Partnership, Lp sold 29,877 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $42.58, for a total value of $1,272,162.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 125,000 shares of company stock worth $5,584,918. Company insiders own 15.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Boston Partners grew its stake in RSP Permian by 20.1% during the 4th quarter. Boston Partners now owns 8,836,699 shares of the oil and natural gas company’s stock worth $359,476,000 after buying an additional 1,475,996 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in RSP Permian by 8.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 5,522,496 shares of the oil and natural gas company’s stock worth $224,655,000 after buying an additional 419,316 shares during the last quarter. Eagle Asset Management Inc. grew its stake in RSP Permian by 18.2% during the 4th quarter. Eagle Asset Management Inc. now owns 4,534,674 shares of the oil and natural gas company’s stock worth $183,598,000 after buying an additional 698,647 shares during the last quarter. Millennium Management LLC grew its stake in RSP Permian by 97.9% during the 4th quarter. Millennium Management LLC now owns 4,529,224 shares of the oil and natural gas company’s stock worth $184,249,000 after buying an additional 2,240,454 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in RSP Permian by 21.8% during the 4th quarter. Teachers Advisors LLC now owns 3,632,271 shares of the oil and natural gas company’s stock worth $147,761,000 after buying an additional 650,443 shares during the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

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RSP Permian Company Profile

RSP Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. It owns interest in contiguous acreage blocks in the core of the Midland Basin primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector, and Glasscock; and in Loving and Winkler counties of the Delaware Basin.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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