RSP Permian (RSPP) Downgraded by Northland Securities

Northland Securities cut shares of RSP Permian (NYSE:RSPP) from an outperform rating to a hold rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. Northland Securities currently has $50.00 price objective on the oil and natural gas company’s stock.

Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets reissued a buy rating and issued a $51.00 target price on shares of RSP Permian in a research report on Thursday, January 11th. Credit Suisse Group initiated coverage on shares of RSP Permian in a research report on Monday, December 11th. They issued an outperform rating and a $44.00 target price on the stock. Robert W. Baird initiated coverage on shares of RSP Permian in a research report on Tuesday, December 19th. They issued an outperform rating and a $46.00 target price on the stock. Morgan Stanley raised their target price on shares of RSP Permian from $46.00 to $52.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus restated a buy rating and issued a $46.00 price target (up previously from $45.00) on shares of RSP Permian in a report on Tuesday, December 19th. Seven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $50.50.

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NYSE:RSPP opened at $46.88 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.72 and a current ratio of 0.72. RSP Permian has a 1 year low of $28.76 and a 1 year high of $47.17. The company has a market capitalization of $7,474.59, a P/E ratio of 57.17, a P/E/G ratio of 0.64 and a beta of 1.92.

RSP Permian (NYSE:RSPP) last released its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $249.02 million for the quarter, compared to analysts’ expectations of $246.71 million. equities research analysts anticipate that RSP Permian will post 2.22 EPS for the current year.

In other news, insider Wallace Family Partnership, Lp sold 29,877 shares of RSP Permian stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $42.58, for a total transaction of $1,272,162.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $41.47, for a total transaction of $1,741,740.00. Following the sale, the director now owns 7,968,851 shares in the company, valued at approximately $330,468,250.97. The disclosure for this sale can be found here. Insiders have sold 104,500 shares of company stock worth $4,401,033 in the last quarter. Insiders own 15.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of RSPP. American International Group Inc. purchased a new stake in shares of RSP Permian during the fourth quarter valued at approximately $119,000. Cerebellum GP LLC purchased a new stake in shares of RSP Permian during the fourth quarter valued at approximately $130,000. Cadence Capital Management LLC purchased a new stake in shares of RSP Permian during the fourth quarter valued at approximately $206,000. CIBC Asset Management Inc purchased a new stake in shares of RSP Permian during the fourth quarter valued at approximately $217,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of RSP Permian during the third quarter valued at approximately $233,000. Institutional investors own 90.66% of the company’s stock.

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RSP Permian Company Profile

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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