RSP Permian (RSPP) : Zacks Investment Research ranks RSP Permian (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 (RSPP) : 18 Wall Street analysts covering RSP Permian (RSPP) believe that the average level the stock could reach for the short term is $38.72. The maximum price target given is $45 and the minimum target for short term is around $33, hence the standard deviation is calculated at $3.48.
RSP Permian (NYSE:RSPP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.03 and $33.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.57, notching a gain of 1.59% for the day. The total traded volume was 802,515 . The stock had closed at $34.03 on the previous day.
Also, Imperial Capital initiates coverage on RSP Permian (NYSE:RSPP). The rating major has initiated the coverage with outperform rating on the shares. The Analysts at Imperial Capital announces a current price target of $45 per share. The rating by the firm was issued on June 15, 2016. The company shares have rallied 31.75% 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 $33.94 and the 200 Day Moving Average price is recorded at $27.87.
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.