RSP Permian Inc (RSPP) reported quarterly earnings results on Monday, Aug-8-2016. The company reported $-0.04 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $-0.03. The company posted revenue of $81.50 million in the period, compared to analysts expectations of $78.37 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Many Wall Street Analysts have commented on RSP Permian Inc. Morgan Stanley Initiated RSP Permian Inc on Jul 21, 2016 to “Equal-Weight”, Price Target of the shares are set at $43.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.
RSP Permian Inc opened for trading at $37.31 and hit $38.77 on the upside on Friday, eventually ending the session at $38.31, with a gain of 3.43% or 1.27 points. The heightened volatility saw the trading volume jump to 23,25,932 shares. Company has a market cap of $3,894 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.