RSP Permian (NYSE:RSPP) shares hit a new 52-week high and low on Wednesday . The stock traded as low as $48.96 and last traded at $49.12, with a volume of 1679892 shares. The stock had previously closed at $47.89.
RSPP has been the subject of several recent analyst reports. BMO Capital Markets reissued a “buy” rating and set a $51.00 price objective on shares of RSP Permian in a report on Thursday, January 11th. Credit Suisse Group set a $51.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Robert W. Baird initiated coverage on shares of RSP Permian in a report on Tuesday, December 19th. They set an “outperform” rating and a $46.00 price objective for the company. Morgan Stanley raised their price objective on shares of RSP Permian from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Jefferies Group set a $51.00 price objective on shares of RSP Permian and gave the stock a “buy” rating in a report on Monday, March 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $50.43.
The stock has a market capitalization of $7,622.89, a P/E ratio of 57.60, a PEG ratio of 0.64 and a beta of 1.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.72 and a current ratio of 0.72.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%. The company had revenue of $249.02 million for the quarter, compared to the consensus estimate of $246.71 million. sell-side analysts forecast that RSP Permian will post 2.23 EPS for the current year.
In other RSP Permian news, insider Wallace Family Partnership, Lp sold 62,500 shares of the business’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $46.81, for a total transaction of $2,925,625.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hartree Partners LP raised its holdings in shares of RSP Permian by 2.7% in the 4th quarter. Hartree Partners LP now owns 62,125 shares of the oil and natural gas company’s stock worth $2,527,000 after purchasing an additional 1,625 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of RSP Permian by 1.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 122,342 shares of the oil and natural gas company’s stock valued at $4,977,000 after acquiring an additional 1,764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of RSP Permian by 38.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,156 shares of the oil and natural gas company’s stock valued at $291,000 after acquiring an additional 1,976 shares during the period. Cambiar Investors LLC raised its holdings in shares of RSP Permian by 2.5% during the fourth quarter. Cambiar Investors LLC now owns 96,949 shares of the oil and natural gas company’s stock valued at $3,944,000 after acquiring an additional 2,344 shares during the period. Finally, American International Group Inc. acquired a new stake in shares of RSP Permian during the fourth quarter valued at approximately $119,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
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About RSP Permian
RSP Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. It owns interest in contiguous acreage blocks in the core of the Midland Basin primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector, and Glasscock; and in Loving and Winkler counties of the Delaware Basin.
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