Royal Bank of Canada restated their hold rating on shares of RSP Permian (NYSE:RSPP) in a research report sent to investors on Friday morning. The brokerage currently has a $53.00 target price on the oil and natural gas company’s stock.

Other analysts also recently issued research reports about the stock. Northland Securities downgraded shares of RSP Permian from an outperform rating to a hold rating and set a $50.00 price objective for the company. in a research report on Thursday, March 29th. Jefferies Group downgraded shares of RSP Permian from a buy rating to a hold rating and set a $51.00 price objective for the company. in a research report on Thursday, March 29th. Goldman Sachs downgraded shares of RSP Permian from a conviction-buy rating to a neutral rating and set a $63.00 price objective for the company. in a research report on Thursday, March 29th. Raymond James Financial reaffirmed a market perform rating on shares of RSP Permian in a research report on Monday, April 2nd. Finally, ValuEngine downgraded shares of RSP Permian from a hold rating to a sell rating in a research report on Saturday, April 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the company. RSP Permian currently has a consensus rating of Buy and an average target price of $50.43.

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RSPP opened at $47.81 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72. RSP Permian has a 1 year low of $28.76 and a 1 year high of $48.01. The company has a market cap of $7,517.66, a P/E ratio of 58.30, a price-to-earnings-growth ratio of 0.64 and a beta of 1.66.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%. The company had revenue of $249.02 million during the quarter, compared to the consensus estimate of $246.71 million. analysts expect that RSP Permian will post 2.23 earnings per share for the current year.

In other news, insider Wallace Family Partnership, Lp sold 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $46.81, for a total transaction of $2,925,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in RSP Permian by 21.3% during the third quarter. Legal & General Group Plc now owns 58,735 shares of the oil and natural gas company’s stock worth $2,032,000 after purchasing an additional 10,325 shares during the last quarter. Mackenzie Financial Corp bought a new position in RSP Permian during the fourth quarter worth $26,158,000. Virtu Financial LLC bought a new position in RSP Permian during the fourth quarter worth $681,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in RSP Permian by 38.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,156 shares of the oil and natural gas company’s stock worth $291,000 after purchasing an additional 1,976 shares during the last quarter. Finally, Swiss National Bank lifted its stake in RSP Permian by 2.1% during the fourth quarter. Swiss National Bank now owns 202,591 shares of the oil and natural gas company’s stock worth $8,241,000 after purchasing an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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About RSP Permian

RSP Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. It owns interest in contiguous acreage blocks in the core of the Midland Basin primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector, and Glasscock; and in Loving and Winkler counties of the Delaware Basin.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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