RSP Permian (RSPP) Receives Average Rating of “Buy” from Analysts

RSP Permian (NYSE:RSPP) has received an average recommendation of “Buy” from the twenty-seven ratings firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $50.83.

RSPP has been the subject of a number of recent research reports. TheStreet upgraded RSP Permian from a “c+” rating to a “b-” rating in a research note on Friday, March 23rd. Northland Securities set a $48.00 target price on RSP Permian and gave the company a “buy” rating in a research note on Monday, December 11th. Stifel Nicolaus restated a “buy” rating and issued a $46.00 target price (up from $45.00) on shares of RSP Permian in a research note on Tuesday, December 19th. Credit Suisse Group set a $51.00 target price on RSP Permian and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday, January 23rd.

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In other news, insider Wallace Family Partnership, Lp sold 32,623 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $42.52, for a total value of $1,387,129.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $41.47, for a total value of $1,741,740.00. Following the completion of the sale, the director now owns 7,968,851 shares of the company’s stock, valued at $330,468,250.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,500 shares of company stock valued at $4,401,033. 15.00% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Boston Partners increased its stake in shares of RSP Permian by 20.1% in 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 buying an additional 1,475,996 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of RSP Permian by 8.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 5,522,496 shares of the oil and natural gas company’s stock valued at $224,655,000 after buying an additional 419,316 shares in the last quarter. Third Point LLC increased its stake in shares of RSP Permian by 19.5% in 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 buying an additional 750,000 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of RSP Permian by 18.2% in 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 buying an additional 698,647 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of RSP Permian by 97.9% in the fourth quarter. Millennium Management LLC now owns 4,529,224 shares of the oil and natural gas company’s stock valued at $184,249,000 after buying an additional 2,240,454 shares in the last quarter. Institutional investors own 90.66% of the company’s stock.

Shares of NYSE RSPP traded up $1.88 during trading hours on Friday, reaching $46.88. The stock had a trading volume of 13,901,609 shares, compared to its average volume of 4,606,493. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7,474.59, a price-to-earnings ratio of 57.17, a PEG ratio of 0.64 and a beta of 1.92. RSP Permian has a twelve month low of $28.76 and a twelve month high of $47.17.

RSP Permian (NYSE:RSPP) last issued its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $249.02 million during the quarter, compared to analyst estimates of $246.71 million. RSP Permian had a return on equity of 3.07% and a net margin of 28.88%. research analysts anticipate that RSP Permian will post 2.22 earnings per share for the current fiscal year.

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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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