Analyst Rating Update on RSP Permian (RSPP)

RSP Permian (NYSE:RSPP) : Zacks Investment Research ranks RSP Permian (NYSE:RSPP) as 3, which is a Hold recommendation. 14 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 17 research analysts is 1.35, which indicates as a Strong Buy.

RSP Permian (NYSE:RSPP) : Average target price received by RSP Permian (NYSE:RSPP) is $38.72 with an expected standard deviation of $3.48. The most aggressive target on the stock is $45, whereas the most downbeat target is $33. 18 financial analysts are currently covering the stock.

For the current week, the company shares have a recommendation consensus of Buy. Also, Imperial Capital initiates coverage on RSP Permian (NYSE:RSPP) In a research note issued to the investors, the brokerage major announces price-target of $45 per share.The shares have been rated Outperform. The rating by the firm was issued on June 15, 2016.

RSP Permian (NYSE:RSPP): stock turned positive on Tuesday. Though the stock opened at $33.44, the bulls momentum made the stock top out at $34.16 level for the day. The stock recorded a low of $33.31 and closed the trading day at $33.69, in the green by 3.76%. The total traded volume for the day was 1,006,292. The stock had closed at $32.47 in the previous days trading.

In an insider trading activity, The Securities and Exchange Commission has divulged that Daugbjerg Erik B, officer (VP of O&G Mktg/Bus. Dev.) of Rsp Permian, Inc., had unloaded 17,500 shares at an average price of $36.13 in a transaction dated on June 8, 2016. The total value of the transaction was worth $632,275.

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.

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