A number of other analysts also recently issued reports on the stock. Williams Capital began coverage on shares of RSP Permian in a research report on Monday, June 12th. They set a buy rating and a $47.00 target price for the company. Zacks Investment Research upgraded RSP Permian from a hold rating to a buy rating and set a $45.00 price target for the company in a report on Tuesday, April 11th. Barclays PLC reiterated an overweight rating and set a $44.00 target price on shares of RSP Permian in a research note on Wednesday, April 26th. Royal Bank of Canada reiterated a buy rating and set a $55.00 target price on shares of RSP Permian in a research note on Friday, June 16th. Finally, Roth Capital set a $65.00 target price on RSP Permian and gave the company a buy rating in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. RSP Permian presently has a consensus rating of Buy and an average target price of $47.87.
Shares of RSP Permian (NYSE RSPP) opened at 32.53 on Wednesday. The company has a market capitalization of $5.16 billion, a P/E ratio of 126.58 and a beta of 2.12. The firm has a 50-day moving average of $35.62 and a 200-day moving average of $39.91. RSP Permian has a one year low of $29.67 and a one year high of $46.92.
RSP Permian (NYSE:RSPP) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. RSP Permian had a net margin of 6.73% and a return on equity of 1.18%. The company had revenue of $169.93 million for the quarter, compared to analyst estimates of $159.81 million. Analysts forecast that RSP Permian will post $0.96 earnings per share for the current year.
In other RSP Permian news, VP William Huck sold 4,000 shares of RSP Permian stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $38.31, for a total value of $153,240.00. Following the sale, the vice president now directly owns 329,752 shares in the company, valued at approximately $12,632,799.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James E. Mutrie sold 11,000 shares of RSP Permian stock in a transaction on Friday, May 5th. The shares were sold at an average price of $39.08, for a total transaction of $429,880.00. Following the completion of the sale, the vice president now owns 51,627 shares in the company, valued at $2,017,583.16. The disclosure for this sale can be found here. Insiders sold 17,412,000 shares of company stock worth $674,719,030 in the last 90 days. 15.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in RSP Permian by 16.4% in the first quarter. Vanguard Group Inc. now owns 8,908,920 shares of the oil and natural gas company’s stock worth $369,096,000 after buying an additional 1,256,249 shares in the last quarter. BlackRock Inc. boosted its stake in RSP Permian by 15,355.9% in the first quarter. BlackRock Inc. now owns 7,398,913 shares of the oil and natural gas company’s stock valued at $306,537,000 after buying an additional 7,351,042 shares during the period. State Street Corp boosted its stake in RSP Permian by 30.2% in the first quarter. State Street Corp now owns 3,614,583 shares of the oil and natural gas company’s stock valued at $149,756,000 after buying an additional 838,188 shares during the period. Teachers Advisors LLC boosted its stake in RSP Permian by 49.9% in the fourth quarter. Teachers Advisors LLC now owns 3,291,626 shares of the oil and natural gas company’s stock valued at $146,872,000 after buying an additional 1,095,570 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in RSP Permian by 66.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,803,325 shares of the oil and natural gas company’s stock valued at $116,142,000 after buying an additional 1,118,888 shares during the period. Institutional investors own 77.54% of the company’s stock.
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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