RSP Permian (RSPP) Stock Rating Lowered by ValuEngine
ValuEngine downgraded shares of RSP Permian (NYSE:RSPP) from a hold rating to a sell rating in a research note published on Thursday morning.
RSPP has been the topic of several other reports. Stifel Nicolaus reissued a buy rating and set a $46.00 price target (up from $45.00) on shares of RSP Permian in a research report on Tuesday, December 19th. BMO Capital Markets set a $46.00 price target on RSP Permian and gave the stock a buy rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reissued a buy rating and set a $50.00 price target on shares of RSP Permian in a research report on Tuesday, January 9th. Barclays boosted their price target on RSP Permian from $38.00 to $45.00 and gave the stock an overweight rating in a research report on Wednesday, October 11th. Finally, Scotiabank reissued a buy rating and set a $43.00 price target on shares of RSP Permian in a research report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. RSP Permian presently has an average rating of Buy and a consensus target price of $47.93.
RSP Permian (RSPP) opened at $33.64 on Thursday. The company has a market capitalization of $5,335.27, a P/E ratio of 55.15, a P/E/G ratio of 0.47 and a beta of 1.97. The company has a current ratio of 0.84, a quick 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 $44.11.
Institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. acquired a new position in shares of RSP Permian in the 4th quarter valued at approximately $119,000. Cerebellum GP LLC bought a new stake in shares of RSP Permian in the 4th quarter valued at approximately $130,000. Cadence Capital Management LLC bought a new stake in shares of RSP Permian in the 4th quarter valued at approximately $206,000. CIBC Asset Management Inc bought a new stake in shares of RSP Permian in the 4th quarter valued at approximately $217,000. Finally, Sentry Investment Management LLC bought a new stake in shares of RSP Permian in the 2nd quarter valued at approximately $210,000. 86.06% of the stock is currently owned by institutional investors.
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About RSP Permian
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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