RSP Permian, Inc. (NYSE:RSPP) PT Lowered to $44.00

RSP Permian, Inc. (NYSE:RSPP) had its price target trimmed by Roth Capital from $64.50 to $44.00 in a report published on Tuesday, July 25th. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Other analysts have also issued reports about the company. Barclays PLC reiterated an overweight rating and issued a $44.00 price objective on shares of RSP Permian in a research report on Wednesday, April 26th. Royal Bank Of Canada set a $51.00 price objective on RSP Permian and gave the stock a buy rating in a research report on Tuesday, April 25th. Scotiabank set a $43.00 price objective on RSP Permian and gave the stock a buy rating in a research report on Saturday, July 1st. Zacks Investment Research lowered RSP Permian from a buy rating to a hold rating in a research report on Saturday, April 8th. Finally, BMO Capital Markets restated a buy rating and set a $50.00 target price on shares of RSP Permian in a report on Wednesday, April 12th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. RSP Permian currently has an average rating of Buy and an average price target of $46.73.

Shares of RSP Permian (NYSE:RSPP) traded up 0.31% during midday trading on Tuesday, reaching $32.36. 1,328,963 shares of the company’s stock were exchanged. RSP Permian has a 1-year low of $29.67 and a 1-year high of $46.92. The company has a market capitalization of $5.13 billion, a PE ratio of 59.70 and a beta of 2.13. The firm has a 50-day moving average of $32.75 and a 200-day moving average of $37.55.

RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $183.10 million during the quarter, compared to analyst estimates of $185.01 million. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The company’s revenue was up 124.7% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. Equities analysts expect that RSP Permian will post $0.72 earnings per share for the current fiscal year.

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In other RSP Permian news, Director Ted Collins, Jr. sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $32.75, for a total transaction of $1,375,500.00. Following the transaction, the director now owns 8,178,851 shares of the company’s stock, valued at approximately $267,857,370.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Richard A. Kayne sold 17,250,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $38.78, for a total value of $668,955,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 17,418,000 shares of company stock worth $674,492,280. 15.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of RSPP. 1st Global Advisors Inc. raised its position in RSP Permian by 1.9% in the first quarter. 1st Global Advisors Inc. now owns 6,594 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 121 shares during the period. Teacher Retirement System of Texas raised its position in RSP Permian by 4.3% in the first quarter. Teacher Retirement System of Texas now owns 8,091 shares of the oil and natural gas company’s stock valued at $335,000 after buying an additional 331 shares during the period. State Board of Administration of Florida Retirement System raised its position in RSP Permian by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,236 shares of the oil and natural gas company’s stock valued at $1,708,000 after buying an additional 450 shares during the period. Mutual of America Capital Management LLC raised its position in RSP Permian by 0.9% in the second quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock valued at $1,905,000 after buying an additional 498 shares during the period. Finally, Adams Diversified Equity Fund Inc. raised its position in RSP Permian by 3.1% in the first quarter. Adams Diversified Equity Fund Inc. now owns 20,000 shares of the oil and natural gas company’s stock valued at $829,000 after buying an additional 600 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

RSP Permian Company Profile

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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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