FY2017 EPS Estimates for RSP Permian Inc Increased by Seaport Global Securities (NYSE:RSPP)

RSP Permian Inc (NYSE:RSPP) – Research analysts at Seaport Global Securities boosted their FY2017 earnings per share (EPS) estimates for shares of RSP Permian in a report released on Tuesday, according to Zacks Investment Research. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will earn $0.80 per share for the year, up from their previous estimate of $0.64.

RSP Permian (NYSE:RSPP) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The business had revenue of $201.70 million during the quarter, compared to the consensus estimate of $201.34 million. During the same quarter last year, the firm posted ($0.01) EPS. The company’s quarterly revenue was up 115.5% on a year-over-year basis.

Several other equities research analysts also recently issued reports on RSPP. BidaskClub raised RSP Permian from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Piper Jaffray Companies cut their price target on RSP Permian from $49.00 to $37.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Northland Securities reaffirmed a “buy” rating and set a $52.00 price target on shares of RSP Permian in a report on Tuesday, September 26th. Stifel Nicolaus set a $43.00 price target on RSP Permian and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Jefferies Group reissued a “buy” rating and set a $47.00 target price on shares of RSP Permian in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.32.

Shares of RSP Permian (RSPP) traded up $0.07 during trading on Wednesday, reaching $42.09. The company’s stock had a trading volume of 1,280,969 shares, compared to its average volume of 1,840,000. RSP Permian has a fifty-two week low of $28.76 and a fifty-two week high of $44.11. The firm has a market cap of $6,680.00, a P/E ratio of 70.15, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

In related news, insider Wallace Family Partnership, Lp sold 32,623 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $42.52, for a total value of $1,387,129.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ted Collins, Jr. sold 42,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $35.61, for a total value of $1,495,620.00. Following the completion of the transaction, the director now owns 8,052,851 shares in the company, valued at approximately $286,762,024.11. The disclosure for this sale can be found here. Insiders sold 203,596 shares of company stock worth $7,801,254 in the last 90 days. 15.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC increased its position in shares of 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 worth $1,905,000 after purchasing an additional 498 shares during the period. Geneva Advisors LLC increased its position in shares of RSP Permian by 3.2% in the second quarter. Geneva Advisors LLC now owns 37,276 shares of the oil and natural gas company’s stock worth $1,203,000 after purchasing an additional 1,139 shares during the period. Teacher Retirement System of Texas increased its position 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 worth $312,000 after purchasing an additional 1,579 shares during the period. BNP Paribas Arbitrage SA grew its position 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 valued at $139,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in RSP Permian by 11.5% in the third quarter. Pacer Advisors Inc. now owns 22,808 shares of the oil and natural gas company’s stock valued at $789,000 after acquiring an additional 2,345 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

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About RSP Permian

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.

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Earnings History and Estimates for RSP Permian (NYSE:RSPP)

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