RSP Permian's (RSPP) Buy Rating Reiterated at Stifel Nicolaus

They now have a $41.00 price objective on the oil and natural gas company's stock. Equity analyst Credit Suisse added the stock to its research portfolio setting a rating of "Outperform". Wolfe Research initiated coverage on shares of RSP Permian in a report on Thursday, June 15th. They set a buy rating and a $47.00 target price on the stock.

RSP Permian Inc was upgraded to "conviction buy" by analysts at Goldman Sachs. Morgan Stanley now has an overweight rating on the oil and natural gas company's stock. Finally, Royal Bank Of Canada reiterated a buy rating and set a $55.00 target price on shares of RSP Permian in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. They issued an outperform rating and a $59.00 price target on the stock.

RSP Permian (NYSE:RSPP) traded up 0.34% during midday trading on Tuesday, reaching $32.37. RSP Permian has a 1-year low of $29.67 and a 1-year high of $46.92.

The company now has a P/E ratio of 59.63 and market capitalization is 5.13B. It is now trading at $32.41 marginally under the 50 day moving average of $32.71 and which is quite a bit below the 200 day moving average of $37.62.

RSP Permian (NYSE:RSPP) last posted 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 Zacks' consensus estimate of $0.15 by $0.02. The company had revenue of $183.10 million for the quarter, compared to analyst estimates of $185.01 million. The company's revenue was up 124.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. Equities analysts predict that RSP Permian will post $0.72 EPS for the current fiscal year. RSP Permian now has a consensus rating of "Buy" and a consensus price target of $46.58. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & global copyright and trademark laws. The correct version of this article can be viewed at https://theolympiareport.com/2017/08/11/bidaskclub-lowers-rsp-permian-inc-rspp-to-strong-sell.html. 1,007,188 shares of the company traded hands. The stock was sold at an average price of $38.78, for a total transaction of $668,955,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The stock was sold at an average price of $34.49, for a total value of $1,448,580.00. Following the completion of 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 sale can be found here. Insiders sold a total of 17,355,000 shares of company stock worth $672,431,130 in the last 90 days. Company insiders own 15.00% of the company's stock.

Several institutional investors have recently made changes to their positions in RSPP. Van Eck Associates Corp grew its ownership by buying 463,708 shares an increase of 37.3% as of 06/30/2017. BP Capital Fund Advisors LLC now owns 162,940 shares of the oil and natural gas company's stock worth $5,258,000 after buying an additional 16,899 shares during the last quarter. First Trust Advisors LP raised its position in shares of RSP Permian by 37.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,236 shares of the oil and natural gas company's stock worth $1,708,000 after buying an additional 450 shares during the period. Nationwide Fund Advisors now owns 88,767 shares of the oil and natural gas company's stock valued at $3,678,000 after buying an additional 2,748 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in RSP Permian during the second quarter valued at $225,000. Mutual of America Capital Management LLC now owns 58,530 shares of the oil and natural gas company's stock worth $2,425,000 after buying an additional 598 shares in the last 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.

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.

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