RSP Permian Inc. (NYSE:RSPP) Receives $37.45 Average Target Price from Brokerages
Shares of RSP Permian Inc. (NYSE:RSPP) have been given an average recommendation of “Buy” by the thirty-four analysts that are currently covering the firm. Seven research analysts have rated the stock with a hold recommendation, twenty-six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.45.
RSPP has been the topic of several analyst reports. Deutsche Bank AG upped their target price on shares of RSP Permian from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Wells Fargo & Co. initiated coverage on shares of RSP Permian in a research report on Wednesday, August 24th. They set an “outperform” rating and a $16.74 price objective on the stock. Zacks Investment Research downgraded shares of RSP Permian from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Roth Capital restated a “buy” rating on shares of RSP Permian in a research report on Thursday, May 26th. Finally, Simmons restated an “overweight” rating and set a $40.00 price objective (up previously from $38.00) on shares of RSP Permian in a research report on Friday, July 15th.
RSP Permian (NYSE:RSPP) opened at 37.64 on Tuesday. RSP Permian has a 1-year low of $16.74 and a 1-year high of $40.74. The company has a 50-day moving average of $38.60 and a 200-day moving average of $33.69. The stock’s market capitalization is $3.83 billion.
RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The business had revenue of $81.50 million for the quarter, compared to analyst estimates of $71.12 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. RSP Permian’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that RSP Permian will post ($0.18) earnings per share for the current fiscal year.
In other news, VP William Huck sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $38.76, for a total value of $232,560.00. Following the completion of the sale, the vice president now owns 387,837 shares in the company, valued at approximately $15,032,562.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted Collins, Jr. sold 21,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $33.77, for a total transaction of $709,170.00. Following the completion of the sale, the director now owns 8,590,088 shares of the company’s stock, valued at approximately $290,087,271.76. The disclosure for this sale can be found here. Company insiders own 23.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in RSP Permian by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,442,447 shares of the company’s stock valued at $189,887,000 after buying an additional 705,142 shares during the period. Norges Bank purchased a new stake in RSP Permian during the fourth quarter valued at about $12,934,000. Bank of New York Mellon Corp raised its stake in RSP Permian by 87.6% in the second quarter. Bank of New York Mellon Corp now owns 1,060,580 shares of the company’s stock valued at $37,002,000 after buying an additional 495,224 shares during the period. Neuberger Berman Group LLC raised its stake in RSP Permian by 69.6% in the second quarter. Neuberger Berman Group LLC now owns 1,149,800 shares of the company’s stock valued at $40,117,000 after buying an additional 472,000 shares during the period. Finally, FMR LLC raised its stake in RSP Permian by 29.3% in the second quarter. FMR LLC now owns 1,929,713 shares of the company’s stock valued at $67,327,000 after buying an additional 437,513 shares during the period. Hedge funds and other institutional investors own 86.36% of the company’s stock.
About RSP Permian
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.
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