ValuEngine cut shares of RSP Permian (NYSE:RSPP) from a buy rating to a hold rating in a report released on Monday morning.
A number of other equities analysts also recently issued reports on the stock. Seaport Global Securities downgraded shares of RSP Permian from a buy rating to a neutral rating in a research note on Tuesday, April 24th. Stephens set a $69.00 price objective on shares of RSP Permian and gave the company a buy rating in a research note on Tuesday, April 24th. Stifel Nicolaus set a $48.00 price objective on shares of RSP Permian and gave the company a hold rating in a research note on Tuesday, April 24th. Roth Capital cut shares of RSP Permian from a buy rating to a neutral rating and set a $51.00 target price for the company. in a research report on Monday, April 16th. Finally, Royal Bank of Canada reissued a hold rating and set a $53.00 target price on shares of RSP Permian in a research report on Friday, April 13th. Thirteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. RSP Permian currently has a consensus rating of Buy and a consensus target price of $51.55.
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NYSE RSPP opened at $47.31 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 0.77. RSP Permian has a 52-week low of $46.99 and a 52-week high of $47.50. The company has a market cap of $7.62 billion, a PE ratio of 57.70, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66.
RSP Permian (NYSE:RSPP) last released its quarterly earnings data on Wednesday, May 2nd. The oil and natural gas company reported $0.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.50. RSP Permian had a net margin of 31.07% and a return on equity of 4.30%. The firm had revenue of $276.32 million for the quarter, compared to the consensus estimate of $279.97 million. During the same period last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 62.6% on a year-over-year basis. equities analysts predict that RSP Permian will post 2.34 earnings per share for the current year.
In other RSP Permian news, insider Wallace Family Partnership, Lp sold 62,500 shares of the firm’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $48.95, for a total value of $3,059,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of RSP Permian in the first quarter worth $1,406,000. Highbridge Capital Management LLC raised its holdings in shares of RSP Permian by 940.0% in the first quarter. Highbridge Capital Management LLC now owns 249,015 shares of the oil and natural gas company’s stock worth $11,674,000 after buying an additional 225,071 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of RSP Permian in the first quarter worth $1,914,000. Highland Capital Management LP raised its holdings in shares of RSP Permian by 47.4% in the first quarter. Highland Capital Management LP now owns 210,767 shares of the oil and natural gas company’s stock worth $9,881,000 after buying an additional 67,767 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of RSP Permian by 31.2% in the first quarter. Point72 Asset Management L.P. now owns 901,969 shares of the oil and natural gas company’s stock worth $42,284,000 after buying an additional 214,369 shares during the last quarter. 88.62% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.