RSP Permian Inc (RSPP) was Upgraded by Raymond James to ” Strong Buy”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on May 4, 2016.
Many Wall Street Analysts have commented on RSP Permian Inc. Company shares were Reiterated by Wunderlich on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 34 from a previous price target of $29 .Company shares were Reiterated by Deutsche Bank on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $34 .RSP Permian Inc was Upgraded by Goldman to ” Buy” on Mar 11, 2016.
On the company’s financial health, RSP Permian Inc reported $-0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $-0.13. The company had revenue of $55.82 million for the quarter, compared to analysts expectations of $58.61 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
RSP Permian Inc opened for trading at $30.48 and hit $31.19 on the upside on Monday, eventually ending the session at $31, with a gain of 1.27% or 0.39 points. The heightened volatility saw the trading volume jump to 33,08,710 shares. Company has a market cap of $3,151 M.
In a different news, on Apr 21, 2016, William Huck (VP, Operations) sold 6,000 shares at $31.52 per share price. According to the SEC, on Mar 21, 2016, Tamara D. Pollard (EVP of Planning and Reserves) sold 20,000 shares at $29.26 per share price. On Mar 21, 2016, Zane W. Arrott (Chief Operating Officer) sold 50,000 shares at $29.09 per share price, according to the Form-4 filing with the securities and exchange commission.
RSP Permian Inc. is an independent oil and natural gas Company focused on 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 a sub-basin of the Permian Basin primarily in the adjacent counties of Midland Martin Andrews Dawson Ector and Glasscock. As of December 31 2014 the Company has participated in the completion of 92 horizontal wells 45 of which the Company operated. Of these operated horizontal wells three are Wolfcamp A wells 17 are Wolfcamp B wells two are Wolfcamp D wells nine are Middle Spraberry wells 14 are Lower Spraberry wells.