FY2017 EPS Estimates for RSP Permian, Inc. (RSPP) Boosted by Jefferies Group
RSP Permian, Inc. (NYSE:RSPP) – Investment analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for RSP Permian in a research note issued on Monday. Jefferies Group analyst M. Hsu now expects that the oil and natural gas company will earn $0.76 per share for the year, up from their previous forecast of $0.74. Jefferies Group currently has a “Buy” rating and a $47.00 target price on the stock. Jefferies Group also issued estimates for RSP Permian’s Q4 2017 earnings at $0.25 EPS, Q1 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.50 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.66 EPS and FY2019 earnings at $2.53 EPS.
RSPP has been the subject of several other research reports. Roth Capital set a $44.00 target price on RSP Permian and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) upgraded RSP Permian from a “buy” rating to a “conviction-buy” rating and set a $45.00 target price for the company in a research report on Wednesday, August 9th. Imperial Capital assumed coverage on RSP Permian in a research report on Tuesday, August 15th. They set an “outperform” rating and a $42.00 target price for the company. Royal Bank Of Canada raised their target price on RSP Permian from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Zacks Investment Research upgraded RSP Permian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, three have assigned 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 has an average rating of “Buy” and a consensus price target of $46.71.
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Shares of RSP Permian (NYSE RSPP) opened at $36.07 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. 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 $5,740.00, a P/E ratio of 62.25, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15.
RSP Permian (NYSE:RSPP) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.18 EPS for the quarter, hitting the Zacks’ 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 during the quarter, compared to the consensus estimate of $201.34 million. During the same quarter last year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 115.5% on a year-over-year basis.
In other news, Director Ted Collins, Jr. sold 21,000 shares of RSP Permian stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $34.78, for a total value of $730,380.00. Following the completion of the sale, the director now directly owns 8,094,851 shares of the company’s stock, valued at approximately $281,538,917.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 185,560 shares of company stock valued at $5,999,303 over the last three months. Insiders own 15.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in shares of RSP Permian by 65.7% during the second quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the oil and natural gas company’s stock worth $139,000 after purchasing an additional 1,705 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of RSP Permian during the second quarter worth $210,000. Sentry Investment Management LLC acquired a new stake in shares of RSP Permian during the second quarter worth $210,000. GSA Capital Partners LLP acquired a new stake in shares of RSP Permian during the second quarter worth $225,000. Finally, Teton Advisors Inc. acquired a new stake in shares of RSP Permian during the third quarter worth $256,000. 87.02% of the stock is 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.
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