RSP Permian Inc (RSPP) was Initiated by Morgan Stanley to “Equal-Weight” and the brokerage firm has set the Price Target at $43. Morgan Stanley advised their investors in a research report released on Jul 21, 2016.
Many Wall Street Analysts have commented on RSP Permian Inc. Company shares were Resumed by Piper Jaffray on Jul 13, 2016 to “Overweight”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .Imperial Capital Initiated RSP Permian Inc on Jun 15, 2016 to “Outperform”, Price Target of the shares are set at $45.Company shares were Reiterated by Wunderlich on Jun 14, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $34 .
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 $34.32 and hit $35.14 on the upside on Wednesday, eventually ending the session at $34.9, with a gain of 0.93% or 0.32 points. The heightened volatility saw the trading volume jump to 7,88,470 shares. Company has a market cap of $3,547 M.
In a different news, on Jun 10, 2016, Erik B Daugbjerg (VP of O&G Mktg/Bus. Dev.) sold 17,500 shares at $36.13 per share price. According to the SEC, on Jun 1, 2016, William Huck (VP, Operations) sold 10,000 shares at $33.00 per share price. On May 13, 2016, Zane W. Arrott (Chief Operating Officer) sold 50,000 shares at $31.78 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.