Today, RSP Permian Inc. (RSPP) Receives Buy Rating from Nomura

Today, RSP Permian Inc. (RSPP) Receives Buy Rating from Nomura

Nomura restated their buy rating on shares of RSP Permian Inc. (NYSE:RSPP) in a research report released on Monday morning. Nomura currently has a $48.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank AG boosted their price target on shares of RSP Permian from $39.00 to $48.00 and gave the company a buy rating in a report on Wednesday, August 10th. Wunderlich boosted their price target on shares of RSP Permian from $41.00 to $44.00 and gave the company a buy rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded shares of RSP Permian from a hold rating to a buy rating and set a $41.00 price target on the stock in a report on Wednesday, July 13th. Roth Capital restated a buy rating on shares of RSP Permian in a report on Tuesday, July 12th. Finally, Canaccord Genuity restated a buy rating and set a $34.00 price target on shares of RSP Permian in a report on Wednesday, July 6th. Six analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $39.21.

RSP Permian (NYSE:RSPP) traded down 0.78% during midday trading on Monday, hitting $41.78. The stock had a trading volume of 159,701 shares. The firm has a 50 day moving average price of $38.86 and a 200 day moving average price of $35.12. RSP Permian has a one year low of $16.74 and a one year high of $43.30. The stock’s market cap is $4.25 billion.

RSP Permian (NYSE:RSPP) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). RSP Permian had a negative net margin of 13.38% and a positive return on equity of 0.31%. The business had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $71.12 million. During the same period in the previous year, the company posted $0.16 EPS. RSP Permian’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that RSP Permian will post ($0.19) EPS for the current year.

In related news, Director Kenneth V. Huseman purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were acquired at an average cost of $37.76 per share, with a total value of $75,520.00. Following the completion of the purchase, the director now directly owns 19,510 shares of the company’s stock, valued at $736,697.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $34.04, for a total transaction of $1,429,680.00. Following the sale, the director now directly owns 8,590,088 shares in the company, valued at $292,406,595.52. The disclosure for this sale can be found here. Insiders own 23.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. BOKF NA bought a new stake in RSP Permian during the second quarter valued at approximately $102,000. BNP Paribas Arbitrage SA boosted its position in shares of RSP Permian by 50,766.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,052 shares of the company’s stock worth $106,000 after buying an additional 3,046 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of RSP Permian by 3,330.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,459 shares of the company’s stock worth $156,000 after buying an additional 4,329 shares during the last quarter. Comerica Bank acquired a new position in shares of RSP Permian during the second quarter worth about $205,000. Finally, Jane Street Group LLC acquired a new position in shares of RSP Permian during the second quarter worth about $208,000. 86.35% of the stock is currently owned by institutional investors and hedge funds.

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