RSP Permian (NYSE:RSPP) has risen sharply, recording gains of 2.7% in the past 4 weeks. However, the stock has corrected -1.31% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.07% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have rallied 28.10% 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 $34.12 and the 200 Day Moving Average price is recorded at $28.05.
The stock has recorded a 20-day Moving Average of 0.36% and the 50-Day Moving Average is 4.38%.
RSP Permian (NYSE:RSPP): stock turned positive on Friday. Though the stock opened at $34.58, the bulls momentum made the stock top out at $35.02 level for the day. The stock recorded a low of $33.77 and closed the trading day at $34.65, in the green by 1.91%. The total traded volume for the day was 981,198. The stock had closed at $34 in the previous days trading.
In an insider trading activity,The Director 10% Owner of RSP Permian, Inc., Collins Ted Jr sold 42,000 shares at $34.27 on June 28, 2016. The Insider selling transaction had a total value worth of $1,439,340. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.