RSP Permian (NYSE:RSPP) was downgraded by investment analysts at Roth Capital from a “buy” rating to a “neutral” rating in a report released on Monday.
Several other research firms also recently weighed in on RSPP. Credit Suisse Group set a $51.00 price target on shares of RSP Permian and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Stifel Nicolaus downgraded shares of RSP Permian from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research report on Monday, April 9th. Morgan Stanley raised their price objective on shares of RSP Permian from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Zacks Investment Research upgraded shares of RSP Permian from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, January 23rd. Finally, BMO Capital Markets restated a “buy” rating and set a $51.00 price objective on shares of RSP Permian in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.41.
RSPP traded up $0.02 during trading on Monday, hitting $47.17. The company’s stock had a trading volume of 129,267 shares, compared to its average volume of 3,563,608. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.35. RSP Permian has a one year low of $28.76 and a one year high of $47.29. The company has a market capitalization of $7,517.66, a PE ratio of 57.52, a PEG ratio of 0.64 and a beta of 1.66.
RSP Permian (NYSE:RSPP) last released its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. RSP Permian had a net margin of 28.88% and a return on equity of 3.07%. The business had revenue of $249.02 million for the quarter, compared to the consensus estimate of $246.71 million. equities analysts forecast that RSP Permian will post 2.23 earnings per share for the current fiscal year.
In other RSP Permian news, insider Wallace Family Partnership, Lp sold 62,500 shares of RSP Permian stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $46.81, for a total value of $2,925,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.00% of the company’s stock.
Several large investors have recently modified their holdings of RSPP. Legal & General Group Plc boosted its stake in shares of RSP Permian by 21.3% during the 3rd quarter. Legal & General Group Plc now owns 58,735 shares of the oil and natural gas company’s stock worth $2,032,000 after purchasing an additional 10,325 shares during the period. Mackenzie Financial Corp purchased a new stake in RSP Permian in the 4th quarter valued at about $26,158,000. Virtu Financial LLC purchased a new stake in RSP Permian in the 4th quarter valued at about $681,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in RSP Permian by 38.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,156 shares of the oil and natural gas company’s stock valued at $291,000 after buying an additional 1,976 shares during the period. Finally, Swiss National Bank boosted its position in RSP Permian by 2.1% in the 4th quarter. Swiss National Bank now owns 202,591 shares of the oil and natural gas company’s stock valued at $8,241,000 after buying an additional 4,100 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.
RSP Permian Company Profile
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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