RSP Permian (RSPP) PT Set at $46.00 by BMO Capital Markets

BMO Capital Markets set a $46.00 price objective on RSP Permian (NYSE:RSPP) in a report published on Tuesday, November 14th. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

RSPP has been the topic of several other research reports. Northland Securities set a $52.00 price objective on RSP Permian and gave the stock a buy rating in a research report on Monday, July 17th. Zacks Investment Research lowered RSP Permian from a hold rating to a sell rating in a research report on Wednesday, July 19th. Bank of America started coverage on RSP Permian in a research report on Wednesday, July 19th. They set a buy rating and a $45.00 target price on the stock. Royal Bank Of Canada reiterated a buy rating and set a $44.00 target price on shares of RSP Permian in a research report on Thursday, July 20th. Finally, Roth Capital decreased their target price on RSP Permian from $64.50 to $44.00 and set a buy rating on the stock in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $47.00.

RSP Permian (RSPP) traded up $1.02 during mid-day trading on Tuesday, hitting $37.75. 2,202,793 shares of the company’s stock traded hands, compared to its average volume of 2,067,872. RSP Permian has a 1-year low of $28.76 and a 1-year high of $46.92. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $5,987.11, a price-to-earnings ratio of 61.89, a price-to-earnings-growth ratio of 1.82 and a beta of 2.15.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The firm had revenue of $201.70 million for the quarter, compared to the consensus estimate of $201.34 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 115.5% compared to the same quarter last year. sell-side analysts expect that RSP Permian will post 0.79 EPS for the current year.

In other RSP Permian news, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total transaction of $730,380.00. Following the transaction, the director now owns 8,094,851 shares of the company’s stock, valued at $281,538,917.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $35.61, for a total value of $1,495,620.00. Following the completion of the transaction, the director now directly owns 8,052,851 shares in the company, valued at approximately $286,762,024.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,000 shares of company stock valued at $5,629,050. 15.00% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its holdings in RSP Permian by 65.7% during the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after acquiring an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new position in RSP Permian during the second quarter worth $210,000. Sentry Investment Management LLC acquired a new position in RSP Permian during the second quarter worth $210,000. GSA Capital Partners LLP acquired a new position in RSP Permian during the second quarter worth $225,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in RSP Permian during the third quarter worth $233,000. 86.25% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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