Jefferies Group set a $48.00 price objective on RSP Permian (NYSE:RSPP) in a research report report published on Wednesday, December 20th. The brokerage currently has a buy rating on the oil and natural gas company’s stock. Jefferies Group also issued estimates for RSP Permian’s Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $0.84 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.57 EPS, Q1 2019 earnings at $0.58 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.67 EPS and FY2019 earnings at $2.58 EPS.
Several other research analysts have also weighed in on RSPP. BidaskClub lowered RSP Permian from a sell rating to a strong sell rating in a research report on Thursday, August 24th. ValuEngine lowered RSP Permian from a hold rating to a sell rating in a research report on Friday, September 1st. Piper Jaffray Companies lowered their price target on RSP Permian from $49.00 to $37.00 and set an overweight rating for the company in a research report on Monday, September 18th. Northland Securities reiterated a buy rating and issued a $52.00 price objective on shares of RSP Permian in a research note on Tuesday, September 26th. Finally, Stifel Nicolaus set a $43.00 price objective on RSP Permian and gave the company a buy rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. RSP Permian currently has a consensus rating of Buy and an average target price of $46.32.
RSP Permian (NYSE:RSPP) traded up $0.07 during mid-day trading on Wednesday, hitting $42.09. The stock had a trading volume of 1,280,969 shares, compared to its average volume of 1,840,000. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6,680.00, a price-to-earnings ratio of 70.15, a PEG ratio of 1.05 and a beta of 2.15. RSP Permian has a 1-year low of $28.76 and a 1-year high of $44.11.
In related news, insider Wallace Family Partnership, Lp sold 32,623 shares of RSP Permian stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $42.52, for a total transaction of $1,387,129.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ted Collins, Jr. sold 42,000 shares of RSP Permian stock in a transaction that occurred 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 transaction, the director now owns 8,052,851 shares of the company’s stock, valued at $286,762,024.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,596 shares of company stock valued at $7,801,254. Insiders own 15.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Anchor Bolt Capital LP acquired a new position in RSP Permian in the 3rd quarter valued at $13,494,000. Eagle Asset Management Inc. raised its holdings in RSP Permian by 8.1% in the 2nd quarter. Eagle Asset Management Inc. now owns 3,166,539 shares of the oil and natural gas company’s stock valued at $102,184,000 after acquiring an additional 236,985 shares during the last quarter. Cipher Capital LP raised its holdings in RSP Permian by 54.7% in the 2nd quarter. Cipher Capital LP now owns 82,238 shares of the oil and natural gas company’s stock valued at $2,654,000 after acquiring an additional 29,094 shares during the last quarter. Victory Capital Management Inc. raised its holdings in RSP Permian by 49.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,214,602 shares of the oil and natural gas company’s stock valued at $39,195,000 after acquiring an additional 400,254 shares during the last quarter. Finally, Third Point LLC raised its holdings in RSP Permian by 19.5% in the 3rd quarter. Third Point LLC now owns 4,600,000 shares of the oil and natural gas company’s stock valued at $159,114,000 after acquiring an additional 750,000 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.
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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.
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