The stock of RSP Permian Inc (NYSE:RSPP) reached all time high today, Oct, 17 and still has $66.53 target or 58.00% above today’s $42.11 share price. This indicates more upside for the $4.33B company. This technical setup was reported by Barchart.com. If the $66.53 PT is reached, the company will be worth $2.51 billion 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 2.25M shares traded hands or 20.97% up from the average. RSP Permian Inc (NYSE:RSPP) has risen 54.18% since March 14, 2016 and is uptrending. It has outperformed by 48.57% 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), 20 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 80% are positive. RSP Permian has been the topic of 61 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Wednesday, June 8 by Jefferies. The stock of RSP Permian Inc (NYSE:RSPP) has “Buy” rating given on Monday, October 17 by Wunderlich. KeyBanc Capital Markets initiated RSP Permian Inc (NYSE:RSPP) rating on Friday, August 14. KeyBanc Capital Markets has “Overweight” rating and $32 price target. The stock of RSP Permian Inc (NYSE:RSPP) earned “Buy” rating by Deutsche Bank on Wednesday, August 10. Goldman Sachs downgraded the shares of RSPP in a report on Friday, September 11 to “Neutral” rating. The company was maintained on Monday, August 15 by Barclays Capital. Roth Capital upgraded the shares of RSPP in a report on Thursday, August 6 to “Buy” rating. Deutsche Bank upgraded it to “Buy” rating and $33 target price in Wednesday, December 2 report. The rating was maintained by Wunderlich with “Buy” on Wednesday, November 4. The firm earned “Equal-Weight” rating on Thursday, July 21 by Morgan Stanley.
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 Q2 2016. Its down 0.26, from 1.73 in 2016Q1. The ratio is negative, 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.
The Illinois-based Css Lc Il has invested 0.03% in RSP Permian Inc (NYSE:RSPP). New York State Common Retirement Fund owns 273,276 shares or 0.01% of their US portfolio. State Of Wisconsin Investment Board has 505,431 shares for 0.07% of their US portfolio. Channing Capital Llc last reported 1.11M shares in the company. Zimmer L P has 0.56% invested in the company for 542,600 shares. Engineers Gate Manager Lp has 0.26% invested in the company for 102,717 shares. Eam Invsts holds 0.38% or 73,235 shares in its portfolio. Seven Eight Cap Limited Liability, a New York-based fund reported 6,200 shares. Swiss State Bank has invested 0.01% of its portfolio in RSP Permian Inc (NYSE:RSPP). Ladenburg Thalmann Fincl Svcs holds 0% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 369 shares. Nationwide Fund Advisors has 0.01% invested in the company for 77,675 shares. holds 0% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 45,298 shares. Boothbay Fund Mngmt Limited Liability, a New York-based fund reported 13,717 shares. Westwood Inc has invested 0.72% of its portfolio in RSP Permian Inc (NYSE:RSPP). Weiss Multi holds 0.17% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 64,698 shares.
Insider Transactions: Since April 19, 2016, the stock had 1 buy, and 15 selling transactions for $13.35 million net activity. 42,000 shares were sold by Collins Ted Jr, worth $1.33 million on Monday, April 25. $75,520 worth of RSP Permian Inc (NYSE:RSPP) was bought by HUSEMAN KENNETH V. On Wednesday, October 5 the insider Huck William sold $238,740. Arrott Zane W. had sold 50,000 shares worth $1.59 million on Wednesday, May 11. Daugbjerg Erik B sold $632,275 worth of stock or 17,500 shares. The insider Pollard Tamara D. sold 35,000 shares worth $1.14M.
More news for RSP Permian Inc (NYSE:RSPP) were recently published by: Wsj.com, which released: “RSP Permian to Acquire Silver Hill for $2.5 Billion” on October 13, 2016. Reuters.com‘s article titled: “BRIEF-RSP Permian announces $2.4 bln acquisition of Silver Hill Energy” and published on October 13, 2016 is yet another important article.
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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