RBC Capital Remains a Hold on RSP Permian

By Carrie Williams

RBC Capital analyst Scott Hanold reiterated a Hold rating on RSP Permian (NYSE: RSPP) today and set a price target of $53. The company’s shares closed yesterday at $45.48, close to its 52-week high of $47.17.

According to TipRanks.com, Hanold is a 3-star analyst with an average return of 2.0% and a 47.3% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Range Resources Corp.

Currently, the analyst consensus on RSP Permian is Moderate Buy and the average price target is $52.11, representing a 14.6% upside.

In a report issued on March 29, Northland Securities also downgraded the stock to Hold with a $50 price target.

Based on RSP Permian’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $249 million and quarterly net profit of $140 million. In comparison, last year the company earned revenue of $170 million and had a net profit of $38.74 million.

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RSP Permian, Inc. is an oil and natural gas company, which focuses 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 was founded in October 2010 and is headquartered in Dallas, TX.