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RSP Permian (NYSE:RSPP) Wins Buy Rating for Accumulate from Johnson Rice

NewYork RSP Permian NYSE:RSPP

RSP Permian (NYSE:RSPP) Change of Rating

New York-listed Rsp Permian (NYSE:RSPP), was boosted by equity analysts at Johnson Rice. The firm boosted its rating on the $5.79B market cap company to Buy from a previous Accumulate.

According to data compiled by Thomson Reuters, RSP Permian (NYSE:RSPP)’s stock is covered by 28 equity analysts across the Street, with 0 analysts giving it a Sell rating, 26 a Buy rating, while 5 consider it a Hold. The 12-month consensus target price for the stock is $35.33, which reflects an downside potential of 3.21% over the current price.

Institutional Ownership

Brenham Capital Management L.P. had the largest stake with ownership of 3.20M shares as of q2 2015 for 14.73% of the fund portfolio. Talara Capital Management Llc is another bullish investment professional who is having 553,658 shares of RSP Permian or 8.1% of their fund portfolio. Moreover, Caymus Capital Partners L.P. have 6.44% of their fund portfolio invested in the company for 1.42M shares. The New York-based fund Teachers Insurance & Annuity Association Of America revealed it had purchased so far a stake worth about 6.26% of the investment professional’s stock portfolio in RSP Permian. The California-based fund Sanctuary Wealth Advisors Llc is also positive about the stock, possessing 6.68M shares or 5.36% of their fund portfolio.

RSP Permian (NYSE:RSPP) Profile

RSP Permian, Inc. is an independent oil and natural gas company. 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. The Company’s properties are located on contiguous acreage blocks in the Midland Basin, and the Delaware Basin, both sub-basins of the Permian Basin.

RSP Permian (NYSE:RSPP) traded down -2.07% on 29 January, hitting $36.5. A total of 927,489 shares of the company’s stock traded hands. This is down from average of 2.14 million shares. RSP Permian has a 52 week low of $28.76 and a 52 week high of $46.92. The company has a market cap of $5.79 billion and a P/E ratio of 60.36.

Get the latest RSP Permian (NYSE:RSPP) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post RSP Permian (NYSE:RSPP) Wins Buy Rating for Accumulate from Johnson Rice appeared first on Octafinance.

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RSP Permian (NYSE:RSPP) Wins Buy Rating for Accumulate from Johnson Rice


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