Adding Undervalued RSP Permian to Morningstar's Best Ideas List
We are adding RSP Permian to Morningstar's Best Ideas list. The stock is currently trading at a 25% discount to our fair value estimate of $53 per share.ÂThe firm is ideally situated in the core of the Permian Basin (Martin, Midland, and Glasscock counties). Well performance across the position has greatly surpassed expectations in recent quarters, and management notes that the average 180-day cumulative production of horizontal wells brought on line in 2016 is 20% higher than what its publishe...
RSP Permian is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and natural gas reserves in the Permian Basin of West Texas. The company designs and manages the well development and supervises operation and maintenance activities on a day-to-day basis. Independent contractors engaged by the company provides all the equipment and personnel associated with these activities. As of Dec 31 2017, the company had total proved reserves of 375.9 million barrels of oil equivalent, consisting of 261.3 million barrels of oil, 295.02 billion cubic feet of natural gas, and 65.4 million barrels of natural gas liquids.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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