Brokers Issue Forecasts for RSP Permian, Inc.’s FY2017 Earnings (RSPP)
RSP Permian, Inc. (NYSE:RSPP) – KeyCorp upped their FY2017 earnings per share (EPS) estimates for shares of RSP Permian in a research report issued on Tuesday. KeyCorp analyst C. Stevens now anticipates that the oil and natural gas company will post earnings per share of $0.85 for the year, up from their previous forecast of $0.77. KeyCorp has a “Buy” rating and a $49.00 price target on the stock. KeyCorp also issued estimates for RSP Permian’s Q4 2017 earnings at $0.33 EPS, Q4 2018 earnings at $0.63 EPS and Q1 2019 earnings at $0.69 EPS.
RSP Permian (NYSE:RSPP) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The business had revenue of $201.70 million for the quarter, compared to analyst estimates of $201.34 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was up 115.5% compared to the same quarter last year.
RSPP has been the topic of a number of other reports. Royal Bank of Canada lifted their target price on RSP Permian from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, November 13th. Barclays lifted their target price on RSP Permian from $38.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Northland Securities reaffirmed a “buy” rating and set a $52.00 target price on shares of RSP Permian in a research report on Wednesday, November 1st. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $47.00 target price on shares of RSP Permian in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. RSP Permian has a consensus rating of “Buy” and a consensus price target of $45.87.
Shares of RSP Permian (RSPP) opened at $36.99 on Thursday. RSP Permian has a 52-week low of $28.76 and a 52-week high of $46.92. The stock has a market capitalization of $5,882.45, a PE ratio of 60.80, a PEG ratio of 1.79 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.
Several large investors have recently bought and sold shares of RSPP. BNP Paribas Arbitrage SA boosted its position in shares of RSP Permian by 65.7% during the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after buying an additional 1,705 shares during the period. Sentry Investment Management LLC acquired a new position in shares of RSP Permian during the second quarter worth approximately $210,000. Gluskin Sheff & Assoc Inc. acquired a new position in shares of RSP Permian during the second quarter worth approximately $210,000. GSA Capital Partners LLP acquired a new position in shares of RSP Permian during the second quarter worth approximately $225,000. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of RSP Permian during the third quarter worth approximately $233,000. 86.24% of the stock is owned by institutional investors.
In other news, VP Erik B. Daugbjerg sold 19,973 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $37.27, for a total transaction of $744,393.71. Following the completion of the transaction, the vice president now directly owns 203,598 shares of the company’s stock, valued at $7,588,097.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $34.74, for a total value of $1,459,080.00. The disclosure for this sale can be found here. Insiders have sold 191,973 shares of company stock valued at $6,861,844 over the last ninety days. Corporate insiders own 15.00% 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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