RSP Permian Inc (RSPP) is Reiterated by Wunderlich to Buy, Raises Price Target to $ 38

RSP Permian Inc (RSPP) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 38 from a previous price target of $34 . Wunderlich advised their investors in a research report released on Jun 14, 2016.

Many Wall Street Analysts have commented on RSP Permian Inc. Company shares were Reiterated by Wunderlich on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 34 from a previous price target of $29 .RSP Permian Inc was Upgraded by Raymond James to ” Strong Buy” on May 4, 2016. Company shares were Reiterated by Deutsche Bank on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $34 .

On the company’s financial health, RSP Permian Inc reported $-0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $-0.13. The company had revenue of $55.82 million for the quarter, compared to analysts expectations of $58.61 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

RSP Permian Inc closed down -1.41 points or -4.01% at $33.74 with 11,69,749 shares getting traded on Friday. Post opening the session at $33.89, the shares hit an intraday low of $33.6401 and an intraday high of $35.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 10, 2016, Erik B Daugbjerg (VP of O&G Mktg/Bus. Dev.) sold 17,500 shares at $36.13 per share price. According to the SEC, on Jun 1, 2016, William Huck (VP, Operations) sold 10,000 shares at $33.00 per share price. On May 13, 2016, Zane W. Arrott (Chief Operating Officer) sold 50,000 shares at $31.78 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

RSP Permian Inc

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