Price Action Don’t Lie: Will RSP Permian Inc Run Out of Steam Soon?

Price Action Don't Lie: Will RSP Permian Inc Run Out of Steam Soon?

The stock of RSP Permian Inc (NYSE:RSPP) reached all time high today, Oct, 10 and still has $60.65 target or 47.00% above today’s $41.26 share price. This indicates more upside for the $4.18B company. This technical setup was reported by Barchart.com. If the $60.65 PT is reached, the company will be worth $1.96B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 580,078 shares traded hands. RSP Permian Inc (NYSE:RSPP) has risen 46.60% since March 7, 2016 and is uptrending. It has outperformed by 39.00% the S&P500.

Analysts await RSP Permian Inc (NYSE:RSPP) to report earnings on November, 7. They expect $-0.01 EPS, down 106.67% or $0.16 from last year’s $0.15 per share. After $-0.04 actual EPS reported by RSP Permian Inc for the previous quarter, Wall Street now forecasts -75.00% EPS growth.

RSP Permian Inc (NYSE:RSPP) Ratings Coverage

Out of 25 analysts covering RSP Permian (NYSE:RSPP), 19 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 76% are positive. RSP Permian has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of RSP Permian Inc (NYSE:RSPP) has “Overweight” rating given on Monday, August 22 by KeyBanc Capital Markets. JP Morgan initiated RSP Permian Inc (NYSE:RSPP) on Wednesday, December 9 with “Neutral” rating. Raymond James upgraded the shares of RSPP in a report on Wednesday, May 4 to “Strong Buy” rating. The firm has “Buy” rating given on Tuesday, January 12 by Jefferies. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, November 4. The firm has “Neutral” rating given on Friday, September 11 by Goldman Sachs. The firm has “Outperform” rating by Northland Capital given on Tuesday, August 4. The firm has “Buy” rating given on Tuesday, June 14 by Wunderlich. The firm has “Buy” rating by Evercore given on Friday, October 2. The firm has “Overweight” rating given on Friday, August 14 by KeyBanc Capital Markets.

According to Zacks Investment Research, “RSP Permian, Inc. is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves primarily in the Permian Basin of West Texas. RSP Permian, Inc. is based in Dallas, United States.”

Insitutional Activity: The institutional sentiment decreased to 1.47 in 2016 Q2. Its down 0.26, from 1.73 in 2016Q1. The ratio worsened, as 22 funds sold all RSP Permian Inc shares owned while 53 reduced positions. 40 funds bought stakes while 70 increased positions. They now own 86.99 million shares or 1.23% less from 88.07 million shares in 2016Q1.
Moreover, Lombardia Ltd Llc has 0.86% invested in RSP Permian Inc (NYSE:RSPP) for 376,797 shares. Rhumbline Advisers accumulated 0.01% or 93,552 shares. Teachers Advisors holds 0.14% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 2.31 million shares. Macquarie Grp holds 0.05% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 673,493 shares. Strs Ohio, a Ohio-based fund reported 10,500 shares. Prudential Fincl has 0% invested in the company for 7,000 shares. Panagora Asset Management has 11,046 shares for 0% of their US portfolio. Tcw Group has 12,096 shares for 0% of their US portfolio. Financial Architects Inc accumulated 0% or 125 shares. Boston Partners accumulated 5.50M shares or 0.28% of the stock. Msd Partners Ltd Partnership holds 1.41% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 617,629 shares. Sir Cap Mngmt Ltd Partnership has 3.07% invested in the company for 589,612 shares. Palisade Cap Lc Nj last reported 0.03% of its portfolio in the stock. Northern has 0.01% invested in the company for 865,125 shares. Comerica Bank & Trust owns 5,359 shares or 0% of their US portfolio.

Insider Transactions: Since April 12, 2016, the stock had 1 buy, and 16 selling transactions for $13.54 million net activity. 42,000 RSP Permian Inc (NYSE:RSPP) shares with value of $1.48 million were sold by Collins Ted Jr. Arrott Zane W. sold $1.59 million worth of RSP Permian Inc (NYSE:RSPP) on Wednesday, May 11. On Friday, May 13 Pollard Tamara D. sold $1.14M worth of the stock or 35,000 shares. On Wednesday, October 5 Huck William sold $238,740 worth of the stock or 6,000 shares. The insider Wallace Family Partnership – LP sold $2.33 million. Another trade for 17,500 shares valued at $632,275 was made by Daugbjerg Erik B on Wednesday, June 8. HUSEMAN KENNETH V also bought $75,520 worth of RSP Permian Inc (NYSE:RSPP) on Thursday, August 11.

More recent RSP Permian Inc (NYSE:RSPP) news were published by: Prnewswire.com which released: “RSP Permian, Inc. Announces First Quarter 2016 Financial and Operating Results” on May 02, 2016. Also Prnewswire.com published the news titled: “RSP Permian, Inc. Announces Fourth Quarter and Year-End 2015 Financial and …” on February 24, 2016. Prnewswire.com‘s news article titled: “RSP Permian, Inc. Announces Retirement of Tamara Pollard, Executive Vice …” with publication date: April 25, 2016 was also an interesting one.

RSPP Company Profile

RSP Permian, Inc., incorporated on September 30, 2013, is an independent oil and natural gas firm 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 Firm operates through the oil and natural gas exploration and production industry in the United States segment. 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.

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