Shares of RSP Permian Inc (NYSE:RSPP) have earned a consensus rating of “Buy” from the thirty ratings firms that are currently covering the company. Five equities research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $47.39.
Several equities research analysts have issued reports on RSPP shares. KeyCorp raised their price target on RSP Permian to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 22nd. Morgan Stanley raised RSP Permian from an “equal weight” rating to an “overweight” rating in a report on Monday, December 5th. FBR & Co cut their price target on RSP Permian to $51.00 and set an “outperform” rating for the company in a report on Tuesday, December 6th. JPMorgan Chase & Co. raised RSP Permian from a “neutral” rating to an “overweight” rating and set a $54.00 price target for the company in a report on Thursday, December 8th. Finally, Drexel Hamilton started coverage on RSP Permian in a report on Thursday, December 15th. They set a “buy” rating and a $51.00 price target for the company.
RSP Permian (NYSE:RSPP) traded down 0.02% during midday trading on Monday, reaching $40.34. 372,288 shares of the company were exchanged. RSP Permian has a one year low of $24.57 and a one year high of $46.92. The firm’s 50-day moving average is $41.91 and its 200-day moving average is $40.99. The firm’s market cap is $5.75 billion.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. RSP Permian had a negative return on equity of 0.47% and a negative net margin of 15.43%. The business earned $122.93 million during the quarter, compared to the consensus estimate of $122.84 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 67.2% on a year-over-year basis. On average, equities analysts expect that RSP Permian will post $0.89 EPS for the current fiscal year.
In related news, VP William Huck sold 6,000 shares of the firm’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $45.13, for a total value of $270,780.00. Following the transaction, the vice president now owns 339,837 shares in the company, valued at $15,336,843.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 18,000 shares of company stock worth $798,240 in the last 90 days. 23.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its position in RSP Permian by 7.9% in the third quarter. BlackRock Fund Advisors now owns 2,139,561 shares of the company’s stock worth $82,972,000 after buying an additional 157,233 shares in the last quarter. Ameriprise Financial Inc. boosted its position in RSP Permian by 328.0% in the third quarter. Ameriprise Financial Inc. now owns 569,262 shares of the company’s stock worth $22,077,000 after buying an additional 436,257 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in RSP Permian by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,876,837 shares of the company’s stock worth $72,784,000 after buying an additional 15,523 shares in the last quarter. Victory Capital Management Inc. boosted its position in RSP Permian by 16.3% in the third quarter. Victory Capital Management Inc. now owns 936,181 shares of the company’s stock worth $36,305,000 after buying an additional 131,106 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in RSP Permian by 125.4% in the third quarter. Quantbot Technologies LP now owns 28,478 shares of the company’s stock worth $1,104,000 after buying an additional 15,846 shares in the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.
About RSP Permian
RSP Permian, Inc is an independent oil and natural gas company focused on 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 operates through the oil and natural gas exploration and production industry in the United States segment.