BidaskClub Upgrades RSP Permian, Inc. (RSPP) to Sell
RSP Permian, Inc. (NYSE:RSPP) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday.
A number of other research analysts also recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $44.00 target price on shares of RSP Permian in a research report on Thursday, July 20th. Zacks Investment Research downgraded shares of RSP Permian from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Credit Suisse Group initiated coverage on shares of RSP Permian in a research report on Thursday, June 1st. They set an “outperform” rating and a $59.00 target price for the company. Bank of America Corporation initiated coverage on shares of RSP Permian in a report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, TheStreet downgraded shares of RSP Permian from a “b-” rating to a “c” rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $47.67.
Shares of RSP Permian (NYSE:RSPP) opened at 31.23 on Friday. The stock’s 50 day moving average price is $31.28 and its 200-day moving average price is $35.61. RSP Permian has a one year low of $28.76 and a one year high of $46.92. The company has a market cap of $4.95 billion, a PE ratio of 57.62 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last released its earnings results on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue was up 124.7% compared to the same quarter last year. On average, analysts expect that RSP Permian will post $0.73 EPS for the current year.
In other news, COO Zane W. Arrott sold 47,113 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $31.29, for a total transaction of $1,474,165.77. Following the sale, the chief operating officer now owns 86,614 shares in the company, valued at approximately $2,710,152.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven D. Gray acquired 10,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were bought at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the transaction, the chief executive officer now owns 311,688 shares in the company, valued at approximately $9,347,523.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 248,560 shares of company stock worth $7,898,543. Corporate insiders own 15.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Sentry Investment Management LLC purchased a new stake in shares of RSP Permian during the 2nd quarter valued at $210,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of RSP Permian during the 2nd quarter valued at $1,003,000. Public Employees Retirement System of Ohio purchased a new stake in shares of RSP Permian during the 2nd quarter valued at $1,892,000. Verition Fund Management LLC purchased a new stake in shares of RSP Permian during the 2nd quarter valued at $310,000. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in shares of RSP Permian during the 2nd quarter valued at $6,454,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.
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.
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