RSP Permian Inc (RSPP) Releases Earnings Results, Misses Expectations By $-0.03 EPS

RSP Permian Inc (RSPP) reported quarterly earnings results on Monday, May-2-2016. The company reported $-0.16 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $-0.13. The company posted revenue of $55.82 million in the period, 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.

Many Wall Street Analysts have commented on RSP Permian Inc. RSP Permian Inc was Upgraded by Goldman to ” Buy” on Mar 11, 2016. RSP Permian Inc was Upgraded by Susquehanna to ” Positive” on Feb 29, 2016. Company shares were Reiterated by Wunderlich on Feb 26, 2016 to “Buy”, Firm has raised the Price Target to $ 29 from a previous price target of $26 .

RSP Permian Inc closed down -0.12 points or -0.38% at $31.85 with 23,87,913 shares getting traded on Wednesday. Post opening the session at $32.35, the shares hit an intraday low of $31.42 and an intraday high of $32.715 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

RSP Permian Inc

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