RSP Permian Inc. (RSPP) Rating Reiterated by Nomura
RSP Permian Inc. (NYSE:RSPP)‘s stock had its “buy” rating reiterated by Nomura in a report released on Monday. They presently have a $48.00 target price on the stock. Nomura’s price objective would suggest a potential upside of 15.41% from the stock’s previous close.
A number of other research analysts have also commented on the company. Stephens upgraded RSP Permian from an “equal weight” rating to an “overweight” rating in a research report on Monday. Wunderlich increased their price objective on RSP Permian from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Monday. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 price objective (up from $42.00) on shares of RSP Permian in a research report on Friday, October 14th. Zacks Investment Research upgraded RSP Permian from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, October 12th. Finally, Capital One Financial Corp. assumed coverage on RSP Permian in a research report on Thursday, October 6th. They issued an “overweight” rating on the stock. Six analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.21.
RSP Permian (NYSE:RSPP) opened at 41.59 on Monday. The firm’s market capitalization is $4.23 billion. RSP Permian has a 52-week low of $16.74 and a 52-week high of $43.30. The company’s 50-day moving average price is $38.91 and its 200 day moving average price is $35.21.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $71.12 million. RSP Permian had a positive return on equity of 0.31% and a negative net margin of 13.38%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. 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, August 22nd. The stock was sold at an average price of $39.33, for a total transaction of $825,930.00. Following the completion of the sale, the director now owns 8,548,588 shares in the company, valued at $336,215,966.04. 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, October 5th. The stock was sold at an average price of $39.79, for a total value of $238,740.00. Following the sale, the vice president now owns 369,837 shares of the company’s stock, valued at approximately $14,715,814.23. The disclosure for this sale can be found here. Corporate insiders own 23.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Boothbay Fund Management LLC boosted its stake in shares of RSP Permian by 0.4% in the first quarter. Boothbay Fund Management LLC now owns 8,887 shares of the company’s stock worth $258,000 after buying an additional 39 shares in the last quarter. Raymond James Trust N.A. increased its stake in RSP Permian by 0.4% in the second quarter. Raymond James Trust N.A. now owns 9,201 shares of the company’s stock worth $320,000 after buying an additional 41 shares during the last quarter. Texan Capital Management increased its stake in RSP Permian by 2.8% in the second quarter. Texan Capital Management now owns 9,300 shares of the company’s stock worth $324,000 after buying an additional 250 shares during the last quarter. Geneva Advisors LLC increased its stake in RSP Permian by 1.7% in the second quarter. Geneva Advisors LLC now owns 23,298 shares of the company’s stock worth $813,000 after buying an additional 394 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake in RSP Permian by 3.7% in the second quarter. Panagora Asset Management Inc. now owns 11,046 shares of the company’s stock worth $385,000 after buying an additional 394 shares during the last quarter. Institutional investors own 86.35% of the company’s stock.
RSP Permian Company Profile
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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