Stephens Upgrades RSP Permian Inc. (RSPP) to Overweight
RSP Permian Inc. (NYSE:RSPP) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, The Fly reports.
A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Co. started coverage on RSP Permian in a report on Wednesday, August 24th. They set an “outperform” rating and a $16.74 price target for the company. Deutsche Bank AG lifted their target price on RSP Permian from $39.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Capital One Financial Corp. assumed coverage on RSP Permian in a research note on Thursday, October 6th. They issued an “overweight” rating for the company. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, October 12th. Finally, FBR & Co assumed coverage on RSP Permian in a research note on Tuesday, September 13th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian has a consensus rating of “Buy” and an average price target of $37.81.
RSP Permian (NYSE:RSPP) opened at 42.20 on Monday. The company’s 50-day moving average price is $38.79 and its 200 day moving average price is $34.94. RSP Permian has a 52-week low of $16.74 and a 52-week high of $42.72. The firm’s market capitalization is $4.29 billion.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The firm earned $81.50 million during the quarter, compared to analysts’ expectations of $71.12 million. During the same period last year, the firm posted $0.16 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts predict that RSP Permian will post ($0.19) earnings per share for the current fiscal year.
In other news, Director Ted Collins, Jr. sold 21,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $290,087,271.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William Huck sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $38.76, for a total value of $232,560.00. Following the sale, the vice president now owns 387,837 shares of the company’s stock, valued at approximately $15,032,562.12. The disclosure for this sale can be found here. Company insiders own 23.50% of the company’s stock.
Large investors have recently modified their holdings of the company. BOKF NA purchased a new stake in shares of RSP Permian during the second quarter worth about $102,000. BNP Paribas Arbitrage SA boosted its stake in shares of RSP Permian by 50,766.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,052 shares of the company’s stock worth $106,000 after buying an additional 3,046 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of RSP Permian by 3,330.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,459 shares of the company’s stock worth $156,000 after buying an additional 4,329 shares in the last quarter. Comerica Bank purchased a new stake in shares of RSP Permian during the second quarter worth about $205,000. Finally, Jane Street Group LLC purchased a new stake in shares of RSP Permian during the second quarter worth about $208,000. Institutional investors own 86.35% 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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