Piper Jaffray Companies Reaffirms Buy Rating for RSP Permian (RSPP)

RSP Permian (NYSE:RSPP)‘s stock had its “buy” rating reissued by research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday, January 9th. They presently have a $50.00 price objective on the oil and natural gas company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 21.92% from the company’s current price.

Several other research analysts also recently issued reports on RSPP. BidaskClub upgraded shares of RSP Permian from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Northland Securities reissued a “buy” rating and set a $52.00 price objective on shares of RSP Permian in a report on Tuesday, September 26th. Stifel Nicolaus set a $43.00 price objective on shares of RSP Permian and gave the company a “buy” rating in a report on Thursday, October 5th. Jefferies Group reissued a “buy” rating and set a $47.00 price objective on shares of RSP Permian in a report on Tuesday, October 10th. Finally, Zacks Investment Research raised shares of RSP Permian from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. RSP Permian currently has a consensus rating of “Buy” and a consensus target price of $46.32.

RSP Permian (RSPP) traded down $0.09 during trading hours on Tuesday, reaching $41.01. 2,674,674 shares of the company traded hands, compared to its average volume of 1,800,000. RSP Permian has a 1-year low of $28.76 and a 1-year high of $44.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $6,500.00, a price-to-earnings ratio of 68.35, a P/E/G ratio of 1.05 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 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. RSP Permian’s quarterly revenue was up 115.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. analysts anticipate that RSP Permian will post 0.81 earnings per share for the current year.

In other news, insider Wallace Family Partnership, Lp sold 32,623 shares of the stock in a transaction on Friday, January 12th. The shares were sold at an average price of $42.52, for a total value of $1,387,129.96. The sale 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 stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $35.61, for a total transaction of $1,495,620.00. Following the completion of the sale, 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 203,596 shares of company stock valued at $7,801,254. 15.00% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of RSPP. BNP Paribas Arbitrage SA increased its position in RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after purchasing an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. purchased a new position in RSP Permian during the 2nd quarter valued at about $210,000. Sentry Investment Management LLC purchased a new position in RSP Permian during the 2nd quarter valued at about $210,000. Fieldpoint Private Securities LLC purchased a new position in RSP Permian during the 3rd quarter valued at about $233,000. Finally, GSA Capital Partners LLP purchased a new position in RSP Permian during the 2nd quarter valued at about $225,000. 86.19% of the stock is currently owned by institutional investors.

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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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