RSP Permian (RSPP) Research Coverage Started at Credit Suisse Group
Credit Suisse Group initiated coverage on shares of RSP Permian (NYSE:RSPP) in a research note issued to investors on Monday, Marketbeat reports. The firm issued an outperform rating and a $44.00 price objective on the oil and natural gas company’s stock.
A number of other research analysts also recently issued reports on RSPP. Imperial Capital assumed coverage on shares of RSP Permian in a research report on Tuesday, August 15th. They issued an outperform rating and a $42.00 price target on the stock. Zacks Investment Research upgraded shares of RSP Permian from a strong sell rating to a hold rating in a research report on Tuesday, August 15th. Jefferies Group restated a buy rating and issued a $46.00 price target on shares of RSP Permian in a research report on Wednesday, August 16th. Northland Securities set a $48.00 price target on shares of RSP Permian and gave the stock a buy rating in a research report on Monday. Finally, Piper Jaffray Companies dropped their price target on shares of RSP Permian from $49.00 to $37.00 and set an overweight rating on the stock in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. RSP Permian has a consensus rating of Buy and a consensus price target of $45.87.
Shares of RSP Permian (NYSE:RSPP) opened at $36.99 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.35. RSP Permian has a 1 year low of $28.76 and a 1 year high of $46.92. The company has a market cap of $5,868.17, a P/E ratio of 60.66, a P/E/G ratio of 1.78 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The business had revenue of $201.70 million for the quarter, compared to the consensus estimate of $201.34 million. During the same period last year, the company earned ($0.01) EPS. The firm’s revenue was up 115.5% compared to the same quarter last year. analysts predict that RSP Permian will post 0.79 earnings per share for the current year.
In other news, VP Erik B. Daugbjerg sold 19,973 shares of RSP Permian stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.27, for a total value of $744,393.71. Following the completion of the sale, the vice president now owns 203,598 shares in the company, valued at approximately $7,588,097.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $34.74, for a total transaction of $1,459,080.00. The disclosure for this sale can be found here. Insiders sold a total of 191,973 shares of company stock valued at $6,861,844 in the last quarter. 15.00% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in RSPP. BNP Paribas Arbitrage SA increased its stake in RSP Permian by 65.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock valued at $139,000 after purchasing an additional 1,705 shares in the last quarter. Sentry Investment Management LLC bought a new stake in RSP Permian during the 2nd quarter valued at $210,000. Gluskin Sheff & Assoc Inc. bought a new stake in RSP Permian during the 2nd quarter valued at $210,000. GSA Capital Partners LLP bought a new stake in RSP Permian during the 2nd quarter valued at $225,000. Finally, Fieldpoint Private Securities LLC bought a new stake in RSP Permian during the 3rd quarter valued at $233,000. Institutional investors own 86.24% of the company’s stock.
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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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