RSP Permian, Inc. (NYSE:RSPP) Price Target Cut to $44.00 by Analysts at Roth Capital

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

A number of other equities research analysts have also recently weighed in on RSPP. Scotiabank set a $51.00 price target on RSP Permian and gave the stock a buy rating in a report on Monday, March 27th. Zacks Investment Research cut RSP Permian from a buy rating to a hold rating in a report on Saturday, April 8th. Goldman Sachs Group, Inc. (The) upgraded RSP Permian from a neutral rating to a buy rating and set a $63.00 price objective on the stock in a report on Tuesday, April 11th. Stifel Nicolaus initiated coverage on RSP Permian in a research report on Wednesday, April 12th. They issued a buy rating and a $46.00 target price on the stock. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $50.00 target price on shares of RSP Permian in a research report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $47.49.

Shares of RSP Permian (NYSE:RSPP) traded up 4.01% during mid-day trading on Tuesday, hitting $31.11. The stock had a trading volume of 3,733,571 shares. The stock has a market cap of $4.93 billion, a P/E ratio of 148.14 and a beta of 2.13. RSP Permian has a one year low of $29.67 and a one year high of $46.92. The firm has a 50 day moving average of $32.76 and a 200-day moving average of $38.07.

In related news, CEO Steven D. Gray purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were acquired at an average cost of $36.19 per share, with a total value of $542,850.00. Following the completion of the purchase, the chief executive officer now directly owns 301,688 shares of the company’s stock, valued at $10,918,088.72. 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 Thursday, May 11th. The shares were sold at an average price of $40.59, for a total transaction of $1,704,780.00. Following the completion of the transaction, the director now owns 8,306,651 shares in the company, valued at $337,166,964.09. The disclosure for this sale can be found here. Insiders have sold 17,397,000 shares of company stock worth $674,135,910 over the last ninety days. Insiders own 15.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of RSPP. BNP Paribas Arbitrage SA boosted its stake in RSP Permian by 65.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after buying an additional 1,705 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in shares of 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. Two Sigma Securities LLC acquired a new stake in shares of RSP Permian during the first quarter valued at $279,000. Lucas Capital Management acquired a new stake in shares of RSP Permian during the second quarter valued at $290,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of RSP Permian by 19.5% in the second quarter. Teacher Retirement System of Texas now owns 9,670 shares of the oil and natural gas company’s stock valued at $312,000 after buying an additional 1,579 shares during the period. Institutional investors own 77.51% of the company’s stock.

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.