Royal Bank Of Canada reissued their buy rating on shares of RSP Permian, Inc. (NYSE:RSPP) in a research note published on Thursday, July 20th. Royal Bank Of Canada currently has a $44.00 target price on the oil and natural gas company’s stock.
Several other research analysts also recently issued reports on RSPP. Zacks Investment Research raised shares of RSP Permian from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research report on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) raised shares of RSP Permian from a neutral rating to a buy rating and set a $63.00 price objective on the stock in a research report on Tuesday, April 11th. Barclays PLC reissued an overweight rating and set a $46.00 price objective (up from $44.00) on shares of RSP Permian in a research report on Wednesday, May 17th. Roth Capital set a $65.00 price objective on shares of RSP Permian and gave the stock a buy rating in a research report on Wednesday, April 12th. Finally, Stifel Nicolaus began coverage on shares of RSP Permian in a research report on Wednesday, April 12th. They set a buy rating and a $46.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. RSP Permian presently has a consensus rating of Buy and an average target price of $46.56.
Shares of RSP Permian (NYSE RSPP) traded up 0.06% on Thursday, hitting $31.72. The stock had a trading volume of 2,235,252 shares. The firm’s 50-day moving average price is $32.72 and its 200 day moving average price is $37.30. The firm has a market cap of $5.03 billion, a P/E ratio of 58.52 and a beta of 2.13. RSP Permian has a 12 month low of $29.67 and a 12 month high of $46.92.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 EPS 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 firm had revenue of $183.10 million for the quarter, compared to analyst estimates of $185.01 million. During the same period last year, the business earned ($0.04) EPS. RSP Permian’s revenue for the quarter was up 124.7% compared to the same quarter last year. Analysts anticipate that RSP Permian will post $0.73 EPS for the current fiscal year.
In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $32.17, for a total transaction of $1,351,140.00. Following the completion of the transaction, the director now owns 8,220,851 shares in the company, valued at $264,464,776.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $32.65, for a total transaction of $685,650.00. Following the transaction, the director now owns 8,178,851 shares of the company’s stock, valued at approximately $267,039,485.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,418,000 shares of company stock valued at $674,492,280. 15.00% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Comerica Bank boosted its position in shares of RSP Permian by 82.8% in the fourth quarter. Comerica Bank now owns 10,215 shares of the oil and natural gas company’s stock worth $433,000 after buying an additional 4,627 shares during the last quarter. Guggenheim Capital LLC raised its position in RSP Permian by 3.3% in the fourth quarter. Guggenheim Capital LLC now owns 48,328 shares of the oil and natural gas company’s stock worth $2,156,000 after buying an additional 1,558 shares in the last quarter. Norges Bank purchased a new position in RSP Permian during the fourth quarter worth $23,164,000. Quadrature Capital Ltd raised its position in RSP Permian by 74.8% in the fourth quarter. Quadrature Capital Ltd now owns 24,324 shares of the oil and natural gas company’s stock worth $1,086,000 after buying an additional 10,410 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in RSP Permian during the fourth quarter worth $781,000. Institutional investors own 78.60% 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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