RSP Permian Inc (NYSE:RSPP) – Investment analysts at Capital One Financial lifted their FY2017 earnings per share (EPS) estimates for shares of RSP Permian in a research report issued to clients and investors on Tuesday. Capital One Financial analyst R. Tullis now expects that the oil and natural gas company will post earnings per share of $0.81 for the year, up from their previous estimate of $0.72.
RSPP has been the topic of a number of other reports. Royal Bank of Canada upped their price target on RSP Permian from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, November 13th. Northland Securities reaffirmed a “buy” rating and set a $52.00 price target on shares of RSP Permian in a research note on Wednesday, November 1st. Zacks Investment Research raised RSP Permian from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, November 3rd. BidaskClub raised RSP Permian from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Morgan Stanley upped their price target on RSP Permian from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. RSP Permian has an average rating of “Buy” and an average target price of $47.93.
In other news, insider Wallace Family Partnership, Lp sold 29,877 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $42.58, for a total value of $1,272,162.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Erik B. Daugbjerg sold 19,973 shares of the company’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 value of $744,393.71. Following the completion of the transaction, the vice president now directly owns 203,598 shares of the company’s stock, valued at $7,588,097.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,473 shares of company stock valued at $9,073,416. 15.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in RSPP. Boston Partners grew its holdings in RSP Permian by 20.1% during the fourth quarter. Boston Partners now owns 8,836,699 shares of the oil and natural gas company’s stock valued at $359,476,000 after purchasing an additional 1,475,996 shares during the period. Alyeska Investment Group L.P. grew its holdings in RSP Permian by 208.1% during the third quarter. Alyeska Investment Group L.P. now owns 2,015,071 shares of the oil and natural gas company’s stock valued at $69,701,000 after purchasing an additional 1,361,049 shares during the period. JPMorgan Chase & Co. grew its holdings in RSP Permian by 163.2% during the third quarter. JPMorgan Chase & Co. now owns 1,322,262 shares of the oil and natural gas company’s stock valued at $45,632,000 after purchasing an additional 819,846 shares during the period. Third Point LLC grew its holdings in RSP Permian by 19.5% during the third quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock valued at $159,114,000 after purchasing an additional 750,000 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in RSP Permian by 18.2% during the fourth quarter. Eagle Asset Management Inc. now owns 4,534,674 shares of the oil and natural gas company’s stock valued at $183,598,000 after purchasing an additional 698,647 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.
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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.
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