Zacks Investment Research cut shares of RSP Permian, Inc. (NYSE:RSPP) from a buy rating to a hold rating in a report issued on Friday.
According to Zacks, “RSP Permian, Inc. is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves primarily in the Permian Basin of West Texas. RSP Permian, Inc. is based in Dallas, United States. “
A number of other brokerages have also recently weighed in on RSPP. Stifel Nicolaus set a $43.00 price target on shares of RSP Permian and gave the stock a buy rating in a research note on Thursday, October 5th. Barclays PLC increased their price target on shares of RSP Permian from $38.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, October 11th. Northland Securities restated a buy rating and issued a $52.00 target price on shares of RSP Permian in a research note on Wednesday, November 1st. BidaskClub upgraded shares of RSP Permian from a sell rating to a hold rating in a research note on Wednesday, November 1st. Finally, Jefferies Group LLC restated a buy rating and issued a $47.00 target price on shares of RSP Permian in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $46.71.
Shares of RSP Permian (RSPP) opened at $37.14 on Friday. The firm has a market cap of $6,022.02, a price-to-earnings ratio of 62.25, a P/E/G ratio of 1.90 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. RSP Permian has a 52 week low of $28.76 and a 52 week high of $46.92.
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 Zacks’ consensus estimate of $0.18. The firm had revenue of $201.70 million during 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%. RSP Permian’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. analysts forecast that RSP Permian will post 0.77 earnings per share for the current year.
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In other RSP Permian news, CEO Steven D. Gray bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $29.99 per share, for a total transaction of $299,900.00. Following the acquisition, the chief executive officer now owns 311,688 shares of the company’s stock, valued at approximately $9,347,523.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted Collins, Jr. sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $34.78, for a total transaction of $730,380.00. Following the transaction, the director now owns 8,094,851 shares of the company’s stock, valued at $281,538,917.78. The disclosure for this sale can be found here. Insiders have sold a total of 185,560 shares of company stock valued at $5,999,303 over the last 90 days. 15.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Anchor Bolt Capital LP purchased a new stake in shares of RSP Permian during the third quarter worth about $13,494,000. Magnetar Financial LLC grew its holdings in shares of RSP Permian by 143.7% during the third quarter. Magnetar Financial LLC now owns 15,473 shares of the oil and natural gas company’s stock worth $535,000 after buying an additional 9,125 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of RSP Permian by 13.2% during the third quarter. Asset Management One Co. Ltd. now owns 82,442 shares of the oil and natural gas company’s stock worth $2,847,000 after buying an additional 9,604 shares in the last quarter. Castleton Investment Management LLC purchased a new stake in shares of RSP Permian during the third quarter worth about $1,038,000. Finally, Royce & Associates LP grew its holdings in shares of RSP Permian by 8.3% during the third quarter. Royce & Associates LP now owns 190,600 shares of the oil and natural gas company’s stock worth $6,593,000 after buying an additional 14,600 shares in the last quarter. Institutional investors and hedge funds own 87.02% 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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