In a report released today, Phillip Jungwirth from BMO Capital reiterated a Buy rating on RSP Permian (NYSE: RSPP), with a price target of $50. The company’s shares closed last Friday at $40.37.
According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 5.5% and a 50.3% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Rice Midstream Partners, and Jagged Peak Energy Inc.
Currently, the analyst consensus on RSP Permian is Strong Buy and the average price target is $53.14, representing a 31.6% upside.
In a report issued on May 3, Scotiabank also maintained a Buy rating on the stock with a $51 price target.
Based on RSP Permian’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $170 million and quarterly net profit of $38.74 million. In comparison, last year the company earned revenue of $55.82 million and had a GAAP net loss of $17.42 million.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. Earlier this month, James Mutrie, the V.P. and General Counsel of RSPP sold 11,000 shares for a total of $429,880.
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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.