Today’s Stock On Watch: Could RSP Permian Inc Change Direction After Making All Time High?

Today's Stock On Watch: Could RSP Permian Inc Change Direction After Making All Time High?

The stock of RSP Permian Inc (NYSE:RSPP) reached all time high today, Nov, 30 and still has $46.22 target or 5.00% above today’s $44.02 share price. This indicates more upside for the $5.47B company. This technical setup was reported by Barchart.com. If the $46.22 PT is reached, the company will be worth $273.50M 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 1.57M shares traded hands. RSP Permian Inc (NYSE:RSPP) has risen 22.26% since April 27, 2016 and is uptrending. It has outperformed by 17.03% the S&P500.

Analysts await RSP Permian Inc (NYSE:RSPP) to report earnings on February, 22. They expect $0.05 EPS, down 58.33% or $0.07 from last year’s $0.12 per share. RSPP’s profit will be $6.21M for 220.10 P/E if the $0.05 EPS becomes a reality. After $-0.01 actual EPS reported by RSP Permian Inc for the previous quarter, Wall Street now forecasts -600.00% 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. Howard Weil upgraded it to “Sector Outperform” rating and $27 target price in Thursday, February 25 report. The stock has “Outperform” rating given by Northland Capital on Tuesday, November 3. The firm has “Hold” rating by Canaccord Genuity given on Tuesday, October 20. The firm has “Buy” rating given on Tuesday, January 12 by Jefferies. The stock of RSP Permian Inc (NYSE:RSPP) has “Overweight” rating given on Thursday, October 6 by CapitalOne. The rating was initiated by Wells Fargo with “Outperform” on Wednesday, August 24. Morgan Stanley initiated RSP Permian Inc (NYSE:RSPP) on Thursday, July 21 with “Equal-Weight” rating. The rating was initiated by Bank of America with “Buy” on Tuesday, October 27. Wunderlich maintained the stock with “Buy” rating in Friday, February 26 report. The stock of RSP Permian Inc (NYSE:RSPP) earned “Buy” rating by Goldman Sachs on Tuesday, March 29.

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 1.39 in 2016 Q2. Its down 0.08, from 1.47 in 2016Q1. The ratio dived, 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.
Nuveen Asset Management Ltd Liability has 0.01% invested in the company for 36,829 shares. The New Jersey-based Prudential has invested 0% in RSP Permian Inc (NYSE:RSPP). Century Limited Liability Com owns 38,879 shares or 0.15% of their US portfolio. Boothbay Fund Management Ltd Liability Company has 13,717 shares for 0.23% of their US portfolio. Tiaa Cref Inv Mngmt Ltd Company last reported 0.11% of its portfolio in the stock. Ser Corp last reported 0% of its portfolio in the stock. Driehaus Limited Liability Com holds 0.03% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 25,047 shares. Adams Natural Fund Incorporated has invested 0.81% of its portfolio in RSP Permian Inc (NYSE:RSPP). Utd Services Automobile Association holds 0.07% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 539,570 shares. Raymond James Fincl Services accumulated 0% or 11,102 shares. Moreover, Tortoise Advsr Ltd Llc has 0.07% invested in RSP Permian Inc (NYSE:RSPP) for 304,704 shares. Lyon Street Cap holds 1.23% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 62,500 shares. Weiss Multi accumulated 64,698 shares or 0.17% of the stock. Weiss Asset Mngmt Lp last reported 15,868 shares in the company. Brenham Capital Mngmt Limited Partnership accumulated 3.60M shares or 16.07% of the stock.

Insider Transactions: Since June 8, 2016, the stock had 1 buy, and 15 sales for $11.46 million net activity. Shares for $1.43 million were sold by Collins Ted Jr. $75,520 worth of RSP Permian Inc (NYSE:RSPP) was bought by HUSEMAN KENNETH V. $252,900 worth of RSP Permian Inc (NYSE:RSPP) was sold by Huck William on Wednesday, October 19. Daugbjerg Erik B sold 17,500 shares worth $632,275.

More news for RSP Permian Inc (NYSE:RSPP) were recently published by: Forbes.com, which released: “RSP Permian Pays High Price For West Texas Properties” on October 14, 2016. Prnewswire.com‘s article titled: “RSP Permian, Inc. Completes First Part of Silver Hill Energy Partners Transaction” and published on November 28, 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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