RSP Permian Gets a Buy Rating from Northland Securities

By Austin Angelo

In a report issued on October 30, Jeff Grampp from Northland Securities reiterated a Buy rating on RSP Permian (NYSE: RSPP), with a price target of $52. The company’s shares closed yesterday at $34.41.

According to TipRanks.com, Grampp is ranked 0 out of 5 stars with an average return of -10.0% and a 31.9% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Penn Virginia Corporation, and Evolution Petroleum Corp.

Currently, the analyst consensus on RSP Permian is Strong Buy and the average price target is $45.23, representing a 31.4% upside.

In a report issued on October 15, RBC Capital also reiterated a Buy rating on the stock with a $43 price target.

Based on RSP Permian’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $183 million and quarterly net profit of $30.94 million. In comparison, last year the company earned revenue of $93.62 million and had a net profit of $978K.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock.

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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.