RSP Permian, Inc. (NYSE:RSPP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “RSP Permian, Inc. is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves primarily in the Permian Basin of West Texas. RSP Permian, Inc. is based in Dallas, United States. “

RSPP has been the subject of a number of other reports. ValuEngine lowered RSP Permian from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Barclays PLC upped their price target on RSP Permian from $38.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies dropped their price target on RSP Permian from $49.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Bank of America Corporation began coverage on RSP Permian in a research report on Wednesday, July 19th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Roth Capital dropped their price target on RSP Permian from $64.50 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.67.

RSP Permian (NYSE RSPP) traded up $0.55 during trading hours on Friday, reaching $37.97. The company’s stock had a trading volume of 2,525,900 shares, compared to its average volume of 2,277,314. RSP Permian has a 52 week low of $28.76 and a 52 week high of $46.92. The company has a current ratio of 0.84, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The stock has a market cap of $6,022.00, a price-to-earnings ratio of 62.25, a P/E/G ratio of 1.90 and a beta of 2.15.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The company had revenue of $201.70 million during the quarter, compared to analyst estimates of $201.34 million. During the same period in the previous year, the business earned ($0.01) EPS. RSP Permian’s quarterly revenue was up 115.5% on a year-over-year basis. analysts anticipate that RSP Permian will post 0.77 earnings per share for the current year.

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In other news, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $34.74, for a total transaction of $1,459,080.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ted Collins, Jr. sold 21,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total value of $730,380.00. Following the sale, the director now directly owns 8,094,851 shares in the company, valued at approximately $281,538,917.78. The disclosure for this sale can be found here. Insiders have sold 185,560 shares of company stock worth $5,999,303 over the last 90 days. 15.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its position in shares of RSP Permian by 0.9% during the second quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock worth $1,905,000 after acquiring an additional 498 shares during the period. Legal & General Group Plc increased its position in shares of RSP Permian by 2.7% during the first quarter. Legal & General Group Plc now owns 35,697 shares of the oil and natural gas company’s stock worth $1,476,000 after acquiring an additional 945 shares during the period. Denver Investment Advisors LLC increased its position in shares of RSP Permian by 8.3% during the second quarter. Denver Investment Advisors LLC now owns 12,365 shares of the oil and natural gas company’s stock worth $399,000 after acquiring an additional 950 shares during the period. Geneva Advisors LLC increased its position in shares of RSP Permian by 3.2% during the second quarter. Geneva Advisors LLC now owns 37,276 shares of the oil and natural gas company’s stock worth $1,203,000 after acquiring an additional 1,139 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of RSP Permian by 19.5% during the second quarter. Teacher Retirement System of Texas now owns 9,670 shares of the oil and natural gas company’s stock worth $312,000 after acquiring an additional 1,579 shares during the period. 86.84% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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