RSP Permian (RSPP) Receives “Buy” Rating from Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of RSP Permian (NYSE:RSPP) in a report published on Tuesday. The firm currently has a $50.00 price target on the oil and natural gas company’s stock.

RSPP has been the subject of several other research reports. Royal Bank of Canada upped their price target on RSP Permian from $43.00 to $45.00 and gave the stock an outperform rating in a research note on Monday, November 13th. Barclays upped their price target on RSP Permian from $38.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, October 11th. Northland Securities reiterated a buy rating and set a $52.00 price target on shares of RSP Permian in a research note on Wednesday, November 1st. Zacks Investment Research upgraded RSP Permian from a hold rating to a buy rating and set a $40.00 price target for the company in a research note on Friday, November 3rd. Finally, Jefferies Group reiterated a buy rating and set a $47.00 price target on shares of RSP Permian in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $46.09.

RSP Permian (NYSE RSPP) traded down $1.20 on Tuesday, hitting $40.74. The stock had a trading volume of 2,291,600 shares, compared to its average volume of 1,770,000. The company has a market cap of $6,460.00, a P/E ratio of 67.90, a PEG ratio of 1.03 and a beta of 2.15. RSP Permian has a 52 week low of $28.76 and a 52 week high of $44.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.

RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The firm’s revenue was up 115.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. research analysts predict that RSP Permian will post 0.81 EPS for the current year.

In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $41.47, for a total value of $1,741,740.00. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. Also, CFO Scott K. Mcneill sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.05, for a total value of $926,250.00. Following the completion of the transaction, the chief financial officer now directly owns 94,477 shares of the company’s stock, valued at approximately $3,500,372.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,973 shares of company stock valued at $6,414,124. Insiders own 15.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in RSP Permian by 11.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,963,201 shares of the oil and natural gas company’s stock valued at $321,513,000 after acquiring an additional 1,054,281 shares in the last quarter. Boston Partners raised its holdings in RSP Permian by 0.9% in the 3rd quarter. Boston Partners now owns 7,360,703 shares of the oil and natural gas company’s stock valued at $254,606,000 after acquiring an additional 69,145 shares in the last quarter. FMR LLC raised its holdings in RSP Permian by 5.9% in the 2nd quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after acquiring an additional 300,249 shares in the last quarter. Third Point LLC raised its holdings in RSP Permian by 19.5% in the 3rd quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock valued at $159,114,000 after acquiring an additional 750,000 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in RSP Permian by 38.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,876,462 shares of the oil and natural gas company’s stock valued at $125,102,000 after acquiring an additional 1,073,137 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other 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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