RSP Permian, Inc. (RSPP) Cut to “Strong Sell” at BidaskClub
BidaskClub downgraded shares of RSP Permian, Inc. (NYSE:RSPP) from a sell rating to a strong sell rating in a report published on Thursday.
A number of other brokerages also recently commented on RSPP. Barclays PLC reiterated an overweight rating and issued a $46.00 price objective (up previously from $44.00) on shares of RSP Permian in a research report on Wednesday, May 17th. Royal Bank Of Canada reiterated a buy rating and issued a $55.00 price objective on shares of RSP Permian in a research report on Friday, May 12th. FBR & Co reiterated an outperform rating and issued a $44.00 price objective (down previously from $51.00) on shares of RSP Permian in a research report on Thursday, May 4th. TheStreet upgraded RSP Permian from a c rating to a b rating in a research report on Monday, May 22nd. Finally, Roth Capital set a $65.00 price objective on RSP Permian and gave the stock a buy rating in a research report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. RSP Permian has an average rating of Buy and an average price target of $47.67.
Shares of RSP Permian (RSPP) traded up 0.52% during trading on Thursday, reaching $30.74. 1,608,468 shares of the company’s stock traded hands. RSP Permian has a 1-year low of $29.67 and a 1-year high of $46.92. The stock has a market capitalization of $4.88 billion, a PE ratio of 56.72 and a beta of 2.13. The company has a 50 day moving average price of $32.40 and a 200 day moving average price of $36.72.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. RSP Permian had a return on equity of 1.86% and a net margin of 12.71%. The company had revenue of $183.10 million during the quarter, compared to the consensus estimate of $185.01 million. During the same quarter last year, the company earned ($0.04) EPS. The company’s quarterly revenue was up 124.7% on a year-over-year basis. On average, equities analysts forecast that RSP Permian will post $0.72 EPS for the current fiscal year.
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In other news, CEO Steven D. Gray bought 15,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was bought 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 owns 301,688 shares of the company’s stock, valued at $10,918,088.72. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Zane W. Arrott sold 47,113 shares of RSP Permian stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $31.29, for a total value of $1,474,165.77. Following the completion of the sale, the chief operating officer now directly owns 86,614 shares of the company’s stock, valued at $2,710,152.06. The disclosure for this sale can be found here. Insiders sold a total of 215,113 shares of company stock valued at $7,011,446 over the last three months. Insiders own 15.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in RSPP. Comerica Bank boosted its stake in RSP Permian by 8.8% in the first quarter. Comerica Bank now owns 11,117 shares of the oil and natural gas company’s stock valued at $422,000 after buying an additional 902 shares during the period. US Bancorp DE boosted its stake in RSP Permian by 6.4% in the first quarter. US Bancorp DE now owns 32,253 shares of the oil and natural gas company’s stock valued at $1,336,000 after buying an additional 1,945 shares during the period. Capital Fund Management S.A. boosted its stake in RSP Permian by 435.3% in the first quarter. Capital Fund Management S.A. now owns 101,750 shares of the oil and natural gas company’s stock valued at $4,216,000 after buying an additional 82,742 shares during the period. American Century Companies Inc. boosted its stake in shares of RSP Permian by 6.4% in the first quarter. American Century Companies Inc. now owns 157,636 shares of the oil and natural gas company’s stock worth $6,531,000 after buying an additional 9,480 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of RSP Permian by 37.3% in the first quarter. First Trust Advisors LP now owns 155,025 shares of the oil and natural gas company’s stock worth $6,423,000 after buying an additional 42,150 shares during the period. 78.60% of the stock is owned by institutional investors.
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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