Goldman Sachs Group, Inc. (The) upgraded shares of RSP Permian, Inc. (NYSE:RSPP) from a buy rating to a conviction-buy rating in a report published on Wednesday. The brokerage currently has $45.00 price objective on the oil and natural gas company’s stock.

RSPP has been the subject of several other research reports. Wolfe Research started coverage on shares of RSP Permian in a research note on Thursday, June 15th. They issued an outperform rating and a $45.00 price objective for the company. Credit Suisse Group started coverage on shares of RSP Permian in a research note on Thursday, June 1st. They issued an outperform rating and a $59.00 price objective for the company. Royal Bank Of Canada reissued a buy rating and issued a $44.00 price objective on shares of RSP Permian in a research note on Thursday, July 20th. Williams Capital started coverage on shares of RSP Permian in a research note on Monday, June 12th. They issued a buy rating and a $47.00 price objective for the company. Finally, BMO Capital Markets set a $38.00 price objective on shares of RSP Permian and gave the stock a buy rating in a research note on Monday, June 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $46.58.

RSP Permian (RSPP) traded up 0.31% on Wednesday, reaching $32.36. The company’s stock had a trading volume of 1,328,963 shares. RSP Permian has a one year low of $29.67 and a one year high of $46.92. The firm has a 50-day moving average of $32.75 and a 200-day moving average of $37.55. The company has a market capitalization of $5.13 billion, a PE ratio of 59.70 and a beta of 2.13.

RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. RSP Permian had a net margin of 12.71% and a return on equity of 1.86%. The firm’s quarterly revenue was up 124.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.04) earnings per share. Analysts predict that RSP Permian will post $0.72 EPS for the current year.

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In related news, major shareholder Richard A. Kayne sold 17,250,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $38.78, for a total value of $668,955,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven D. Gray acquired 15,000 shares of RSP Permian stock in a transaction that occurred on Thursday, June 1st. The stock was acquired at an average cost of $36.19 per share, with a total value of $542,850.00. Following the purchase, the chief executive officer now directly owns 301,688 shares of the company’s stock, valued at $10,918,088.72. The disclosure for this purchase can be found here. Insiders sold 17,418,000 shares of company stock valued at $674,492,280 in the last three months. 15.00% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Third Point LLC raised its position in RSP Permian by 92.5% in the second quarter. Third Point LLC now owns 3,850,000 shares of the oil and natural gas company’s stock valued at $124,240,000 after buying an additional 1,850,000 shares in the last quarter. Virtu KCG Holdings LLC raised its position in RSP Permian by 294.0% in the second quarter. Virtu KCG Holdings LLC now owns 20,864 shares of the oil and natural gas company’s stock valued at $673,000 after buying an additional 15,569 shares in the last quarter. Sapience Investments LLC raised its position in RSP Permian by 49.9% in the second quarter. Sapience Investments LLC now owns 403,567 shares of the oil and natural gas company’s stock valued at $13,023,000 after buying an additional 134,430 shares in the last quarter. BP Capital Fund Advisors LLC raised its position in RSP Permian by 11.6% in the second quarter. BP Capital Fund Advisors LLC now owns 162,940 shares of the oil and natural gas company’s stock valued at $5,258,000 after buying an additional 16,899 shares in the last quarter. Finally, FMR LLC raised its position in RSP Permian by 5.9% in the second quarter. FMR LLC now owns 5,423,687 shares of the oil and natural gas company’s stock valued at $175,023,000 after buying an additional 300,249 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

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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