RSP Permian, Inc. (RSPP) Given Consensus Recommendation of “Buy” by Analysts

RSP Permian, Inc. (NYSE:RSPP) has been given an average recommendation of “Buy” by the twenty-eight analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $47.17.

Several analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, November 13th. Barclays PLC raised their price objective on shares of RSP Permian from $38.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Northland Securities restated a “buy” rating and set a $52.00 price objective on shares of RSP Permian in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of RSP Permian from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday, November 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $47.00 price objective on shares of RSP Permian in a research report on Tuesday, October 10th.

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In other news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $35.61, for a total value of $1,495,620.00. Following the sale, the director now directly owns 8,052,851 shares in the company, valued at approximately $286,762,024.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $31.15, for a total transaction of $654,150.00. Following the transaction, the director now directly owns 8,136,851 shares of the company’s stock, valued at $253,462,908.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,447 shares of company stock worth $6,020,757. Insiders own 15.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. boosted its position in RSP Permian by 8.1% in the 2nd quarter. Eagle Asset Management Inc. now owns 3,166,539 shares of the oil and natural gas company’s stock valued at $102,184,000 after buying an additional 236,985 shares during the period. Victory Capital Management Inc. boosted its position in RSP Permian by 49.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,214,602 shares of the oil and natural gas company’s stock valued at $39,195,000 after buying an additional 400,254 shares during the period. Cipher Capital LP boosted its position in RSP Permian by 54.7% in the 2nd quarter. Cipher Capital LP now owns 82,238 shares of the oil and natural gas company’s stock valued at $2,654,000 after buying an additional 29,094 shares during the period. Capital Advisors Inc. OK purchased a new stake in RSP Permian in the 2nd quarter valued at about $7,907,000. Finally, Rhumbline Advisers boosted its position in RSP Permian by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 134,423 shares of the oil and natural gas company’s stock valued at $4,338,000 after buying an additional 6,870 shares during the period. 87.02% of the stock is owned by hedge funds and other institutional investors.

RSP Permian (RSPP) opened at $36.11 on Friday. The firm has a market cap of $5,800.00, a price-to-earnings ratio of 59.13, a PEG ratio of 1.80 and a beta of 2.15. RSP Permian has a one year low of $28.76 and a one year high of $46.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.

RSP Permian (NYSE:RSPP) last issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $201.34 million. RSP Permian had a net margin of 13.69% and a return on equity of 2.32%. The company’s revenue was up 115.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) EPS. equities research analysts forecast that RSP Permian will post 0.77 earnings per share for the current fiscal year.

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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