RSP Permian (RSPP) PT Set at $53.00 by Credit Suisse Group
Credit Suisse Group set a $53.00 price target on RSP Permian (NYSE:RSPP) in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
A number of other analysts also recently weighed in on the stock. Williams Capital set a $55.00 price target on shares of RSP Permian and gave the company a buy rating in a research report on Wednesday. Zacks Investment Research downgraded shares of RSP Permian from a strong-buy rating to a hold rating in a research report on Wednesday, February 21st. ValuEngine downgraded shares of RSP Permian from a hold rating to a sell rating in a research report on Thursday, February 8th. Deutsche Bank assumed coverage on shares of RSP Permian in a research report on Thursday, February 1st. They issued a buy rating and a $55.00 price target on the stock. Finally, Stifel Nicolaus set a $48.00 price target on shares of RSP Permian and gave the company a buy rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $49.52.
RSP Permian (NYSE:RSPP) opened at $40.04 on Wednesday. The stock has a market cap of $6,350.00, a PE ratio of 16.82, a PEG ratio of 0.54 and a beta of 1.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.84. RSP Permian has a one year low of $28.76 and a one year high of $43.35.
In other RSP Permian news, VP Erik B. Daugbjerg sold 19,973 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $37.27, for a total transaction of $744,393.71. Following the sale, the vice president now directly owns 203,598 shares in the company, valued at approximately $7,588,097.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $35.86, for a total transaction of $1,506,120.00. Following the sale, the director now owns 8,010,851 shares in the company, valued at $287,269,116.86. The disclosure for this sale can be found here. Insiders have sold a total of 191,473 shares of company stock worth $7,577,796 over the last 90 days. Corporate insiders own 15.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. American International Group Inc. acquired a new stake in shares of RSP Permian in the fourth quarter valued at approximately $119,000. Cerebellum GP LLC acquired a new stake in shares of RSP Permian in the fourth quarter valued at approximately $130,000. Cadence Capital Management LLC acquired a new stake in shares of RSP Permian in the fourth quarter valued at approximately $206,000. CIBC Asset Management Inc acquired a new stake in shares of RSP Permian in the fourth quarter valued at approximately $217,000. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of RSP Permian in the third quarter valued at approximately $233,000. Hedge funds and other institutional investors own 89.64% 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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