RSP Permian Inc (NASDAQ:RSPP) was upgraded by research analysts at Tudor Pickering from an “accumulate” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.

RSP Permian (NASDAQ:RSPP) traded down 3.05% during midday trading on Monday, reaching $20.33. The company had a trading volume of 454,157 shares. The stock has a market cap of $2.05 billion and a P/E ratio of 8.91. RSP Permian has a 12 month low of $16.74 and a 12 month high of $31.15. The firm has a 50-day moving average of $23.35 and a 200-day moving average of $24.66.

RSP Permian (NASDAQ:RSPP) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. During the same period last year, the firm earned $0.26 EPS. The business had revenue of $80.60 million for the quarter, compared to analyst estimates of $94.84 million. RSP Permian’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities analysts expect that RSP Permian will post $0.50 EPS for the current fiscal year.

A number of other brokerages have also recently issued reports on RSPP. Deutsche Bank restated a “hold” rating and set a $28.00 price objective (up previously from $25.00) on shares of RSP Permian in a report on Wednesday, October 14th. Barclays restated an “equal weight” rating and set a $28.00 price objective (up previously from $24.00) on shares of RSP Permian in a report on Tuesday, October 13th. KLR Group reduced their price objective on RSP Permian from $36.00 to $34.00 in a report on Thursday, October 15th. Canaccord Genuity started coverage on RSP Permian in a research note on Monday, October 19th. They issued a “hold” rating and a $28.00 price target for the company. Finally, Evercore ISI started coverage on RSP Permian in a research note on Friday, October 2nd. They issued a “buy” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $31.19.

Other hedge funds recently bought and sold shares of the company. Eagle Asset Management increased its stake in RSP Permian by 71.3% in the third quarter. Eagle Asset Management now owns 6,055,366 shares of the company’s stock worth $122,620,000 after buying an additional 2,519,789 shares during the last quarter. Assetmark bought a new stake in RSP Permian during the third quarter worth $0. Finally, Beacon Capital Management bought a new stake in RSP Permian during the fourth quarter worth $0.

In related news, major shareholder Michael Wallace Management, Ll sold 1,050,000 shares of the stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $28.00, for a total value of $29,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Erik B. Daugbjerg sold 30,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $27.74, for a total value of $832,200.00. Following the completion of the sale, the vice president now owns 215,603 shares of the company’s stock, valued at $5,980,827.22. The disclosure for this sale can be found here.

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.

12 Month Chart for NASDAQ:RSPP

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