RSP Permian June 15th Short Interest Update

RSP Permian (NYSE:RSPP) stated gains of 241,367 shares or 3% in the short interest. The short interest registered from 8,160,950 on May 31,2016 to 8,402,317 on June 15,2016. In terms of floated shares, the shorted positions stood at 10.6%. The stock has been averaging 1,272,942 shares daily in trading and would need 7 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

RSP Permian (NYSE:RSPP): The stock opened at $34.49 on Friday but the bulls could not build on the opening and the stock topped out at $35.30 for the day. The stock traded down to $34.26 during the day, due to lack of any buying support eventually closed down at $34.36 with a loss of -4.95% for the day. The stock had closed at $36.15 on the previous day. The total traded volume was 2,670,790 shares.

The company shares have rallied 25.54% from its 1 Year high price. On Jun 23, 2016, the shares registered one year high at $36.49 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $33.48 and the 200 Day Moving Average price is recorded at $27.45.

RSP Permian (NYSE:RSPP) has tumbled 0.43% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.06% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 1.22% and the outperformance has advanced to 6.18% for the last 4 weeks period.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.