RSP Permian (NYSE:RSPP) Stock Rating Reaffirmed by Scotiabank

RSP Permian (NYSE:RSPP)‘s stock had its “buy” rating reaffirmed by research analysts at Scotiabank in a report issued on Wednesday, November 22nd. They presently have a $43.00 target price on the oil and natural gas company’s stock. Scotiabank’s price target indicates a potential upside of 17.97% from the company’s current price.

Several other brokerages have also recently issued reports on RSPP. Zacks Investment Research cut RSP Permian from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Royal Bank Of Canada increased their target price on RSP Permian from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, November 13th. KeyCorp reaffirmed a “buy” rating and set a $49.00 target price on shares of RSP Permian in a research report on Tuesday, October 24th. ValuEngine cut RSP Permian from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded RSP Permian from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $47.00.

Shares of RSP Permian (NYSE RSPP) traded up $0.88 during trading hours on Wednesday, reaching $36.45. The company had a trading volume of 1,384,357 shares, compared to its average volume of 2,034,317. RSP Permian has a 52 week low of $28.76 and a 52 week high of $46.92. The company has a market capitalization of $5,763.50, a PE ratio of 59.57, a P/E/G ratio of 1.75 and a beta of 2.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.84 and a current ratio of 0.84.

RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. RSP Permian had a return on equity of 2.32% and a net margin of 13.69%. The company had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $201.34 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. RSP Permian’s revenue was up 115.5% compared to the same quarter last year. sell-side analysts anticipate that RSP Permian will post 0.79 EPS for the current fiscal year.

In other RSP Permian news, VP Erik B. Daugbjerg sold 19,973 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $37.27, for a total transaction of $744,393.71. Following the sale, the vice president now directly owns 203,598 shares of the company’s stock, valued at approximately $7,588,097.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted Collins, Jr. sold 42,000 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $34.74, for a total value of $1,459,080.00. The disclosure for this sale can be found here. Insiders sold a total of 124,973 shares of company stock valued at $4,429,474 in the last 90 days. 15.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mutual of America Capital Management LLC grew its position in shares of RSP Permian by 0.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 59,028 shares of the oil and natural gas company’s stock valued at $1,905,000 after acquiring an additional 498 shares during the period. Denver Investment Advisors LLC grew its position in shares of RSP Permian by 8.3% during the 2nd quarter. Denver Investment Advisors LLC now owns 12,365 shares of the oil and natural gas company’s stock valued at $399,000 after acquiring an additional 950 shares during the period. Geneva Advisors LLC grew its position in shares of RSP Permian by 3.2% during the 2nd quarter. Geneva Advisors LLC now owns 37,276 shares of the oil and natural gas company’s stock valued at $1,203,000 after acquiring an additional 1,139 shares during the period. Teacher Retirement System of Texas grew its position in shares of RSP Permian by 19.5% during the 2nd 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 acquiring an additional 1,579 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of RSP Permian by 65.7% during the 2nd 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 period. 86.24% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for RSP Permian (NYSE:RSPP)

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