RSP Permian (RSPP) : Traders are bullish on RSP Permian (RSPP) as it has outperformed the S&P 500 by a wide margin of 7.88% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.11%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.56% in the last 1 week, and is up 10.56% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
RSP Permian (NYSE:RSPP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $37.31 and $36.97 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.31, notching a gain of 3.43% for the day. The total traded volume was 2,325,932 . The stock had closed at $37.04 on the previous day.
The stock has recorded a 20-day Moving Average of 10.19% and the 50-Day Moving Average is 11.08%. RSP Permian, Inc. is up 25.2% in the last 3-month period. Year-to-Date the stock performance stands at 57.07%.
RSP Permian (RSPP) : The most positive equity analysts on RSP Permian (RSPP) expects the shares to touch $46, whereas, the least positive believes that the stock will trade at $33 in the short term. The company is covered by 19 Wall Street Brokerage Firms. The average price target for shares are $39.68 with an expected fluctuation of $3.68 from the mean.
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 Companys 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.