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.
RSP Permian Company Profile