Roth Capital Downgrades RSP Permian (RSPP) to Neutral

RSP Permian (NYSE:RSPP) was downgraded by equities researchers at Roth Capital from a “buy” rating to a “neutral” rating in a report released on Monday.

Several other research firms also recently commented on RSPP. Royal Bank of Canada reaffirmed a “hold” rating and issued a $53.00 price objective on shares of RSP Permian in a report on Friday. Stifel Nicolaus downgraded shares of RSP Permian from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a report on Monday, April 9th. Credit Suisse Group downgraded shares of RSP Permian from an “outperform” rating to a “hold” rating and dropped their price objective for the company from $53.00 to $51.00 in a report on Tuesday, April 3rd. ValuEngine downgraded shares of RSP Permian from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Finally, KLR Group downgraded shares of RSP Permian from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.41.

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Shares of NYSE RSPP traded up $0.02 during trading hours on Monday, hitting $47.17. 129,267 shares of the stock were exchanged, compared to its average volume of 3,563,608. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.35. The firm has a market cap of $7,517.66, a PE ratio of 57.52, a price-to-earnings-growth ratio of 0.64 and a beta of 1.66. RSP Permian has a 12 month low of $28.76 and a 12 month high of $47.29.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The firm had revenue of $249.02 million during the quarter, compared to analyst estimates of $246.71 million. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%. equities research analysts anticipate that RSP Permian will post 2.23 earnings per share for the current fiscal year.

In other RSP Permian news, insider Wallace Family Partnership, Lp sold 62,500 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $46.81, for a total transaction of $2,925,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. Carillon Tower Advisers Inc. acquired a new stake in shares of RSP Permian in the fourth quarter valued at about $127,821,000. Millennium Management LLC raised its position 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 during the last quarter. Boston Partners raised its position 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 during the last quarter. Tide Point Capital Management LP raised its position in shares of RSP Permian by 186.3% in the fourth quarter. Tide Point Capital Management LP now owns 1,963,563 shares of the oil and natural gas company’s stock valued at $79,878,000 after buying an additional 1,277,690 shares during the last quarter. Finally, Viking Global Investors LP acquired a new stake in shares of RSP Permian in the fourth quarter valued at about $46,798,000. Institutional investors own 90.77% of the company’s stock.

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About RSP Permian

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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