RSP Permian, Inc. (RSPP) Announces Quarterly Earnings Results
RSP Permian, Inc. (NYSE:RSPP) posted its quarterly earnings data on Monday. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02, Briefing.com reports. RSP Permian had a return on equity of 1.18% and a net margin of 6.73%. The firm had revenue of $183.10 million for the quarter, compared to the consensus estimate of $185.01 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 124.7% compared to the same quarter last year.
Shares of RSP Permian (RSPP) opened at 30.77 on Tuesday. The company has a 50 day moving average of $32.76 and a 200-day moving average of $38.07. The company has a market cap of $4.88 billion, a PE ratio of 119.73 and a beta of 2.13. RSP Permian has a 52-week low of $29.67 and a 52-week high of $46.92.
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Several research analysts have issued reports on the company. Williams Capital set a $47.00 price objective on RSP Permian and gave the stock a “buy” rating in a report on Tuesday. Scotiabank set a $43.00 price objective on RSP Permian and gave the stock a “buy” rating in a report on Saturday, July 1st. TheStreet raised RSP Permian from a “c” rating to a “b” rating in a report on Monday, May 22nd. Stifel Nicolaus assumed coverage on RSP Permian in a report on Wednesday, April 12th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, BMO Capital Markets set a $38.00 price objective on RSP Permian and gave the stock a “buy” rating in a report on Monday, June 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $47.49.
In related news, major shareholder Richard A. Kayne sold 17,250,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total value of $668,955,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $40.59, for a total transaction of $1,704,780.00. Following the completion of the transaction, the director now owns 8,306,651 shares in the company, valued at approximately $337,166,964.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,397,000 shares of company stock worth $674,135,910. 15.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its position in RSP Permian by 37.3% in the first quarter. First Trust Advisors LP now owns 155,025 shares of the oil and natural gas company’s stock valued at $6,423,000 after buying an additional 42,150 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in RSP Permian by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,236 shares of the oil and natural gas company’s stock valued at $1,708,000 after buying an additional 450 shares during the last quarter. Caymus Capital Partners L.P. raised its position in RSP Permian by 26.4% in the first quarter. Caymus Capital Partners L.P. now owns 1,878,800 shares of the oil and natural gas company’s stock valued at $77,839,000 after buying an additional 392,500 shares during the last quarter. Geneva Advisors LLC raised its position in RSP Permian by 5.4% in the first quarter. Geneva Advisors LLC now owns 36,137 shares of the oil and natural gas company’s stock valued at $1,497,000 after buying an additional 1,846 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in RSP Permian during the first quarter valued at about $345,000. Institutional investors and hedge funds own 77.43% of the company’s stock.
RSP Permian Company Profile
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.
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