Today’s Price Action: Could RSP Permian Inc Lose its Strength? The Stock Reaches 52-Week High

Today's Price Action: Could RSP Permian Inc Lose its Strength? The Stock Reaches 52 Week High

The stock of RSP Permian Inc (NYSE:RSPP) hit a new 52-week high and has $64.96 target or 52.00% above today’s $42.74 share price. The 8 months bullish chart indicates low risk for the $4.39B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $64.96 price target is reached, the company will be worth $2.28B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 602,031 shares traded hands. 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 earnings per share, down 106.67% or $0.16 from last year’s $0.15 per share. After $-0.04 actual earnings per share 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 60 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of RSP Permian Inc (NYSE:RSPP) earned “Sector Outperform” rating by Howard Weil on Thursday, February 25. The rating was initiated by Imperial Capital on Wednesday, June 15 with “Outperform”. The rating was initiated by Iberia Capital Partners on Friday, October 9 with “Outperform”. JP Morgan initiated it with “Neutral” rating and $30 target price in Wednesday, December 9 report. Bank of America initiated RSP Permian Inc (NYSE:RSPP) on Tuesday, October 27 with “Buy” rating. Evercore initiated the stock with “Buy” rating in Friday, October 2 report. Wunderlich maintained RSP Permian Inc (NYSE:RSPP) on Monday, October 17 with “Buy” rating. The stock of RSP Permian Inc (NYSE:RSPP) has “Outperform” rating given on Friday, January 29 by BMO Capital Markets. FBR Capital initiated the shares of RSPP in a report on Tuesday, September 13 with “Outperform” rating. On Tuesday, June 14 the stock rating was maintained by Wunderlich with “Buy”.

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 turned 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.
Morgan Stanley, a New York-based fund reported 152,120 shares. Moreover, Aqr Management Lc has 0% invested in RSP Permian Inc (NYSE:RSPP) for 69,384 shares. Northern accumulated 0.01% or 865,125 shares. Talara Cap Management Lc holds 9.64% or 623,408 shares in its portfolio. Raymond James Associates accumulated 128,104 shares or 0.01% of the stock. Citigroup owns 1,705 shares or 0% of their US portfolio. Alliancebernstein L P has 112,802 shares for 0% of their US portfolio. First Tru Advisors Limited Partnership last reported 99,085 shares in the company. Bocage Ltd Liability holds 6.26% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 285,431 shares. Comerica National Bank owns 5,359 shares or 0% of their US portfolio. California State Teachers Retirement System, a California-based fund reported 165,204 shares. Prudential Inc has 0% invested in the company for 7,000 shares. Tiaa Cref Inv Mngmt Llc has 3.93M shares for 0.11% of their US portfolio. Envestnet Asset Mngmt last reported 18,306 shares in the company. Hancock, a Mississippi-based fund reported 223,657 shares.

Insider Transactions: Since April 19, 2016, the stock had 1 insider purchase, and 15 sales for $13.35 million net activity. Shares for $1.65 million were sold by Collins Ted Jr. 6,000 shares were sold by Huck William, worth $232,560 on Wednesday, August 17. Another trade for 2,000 shares valued at $75,520 was bought by HUSEMAN KENNETH V. On Friday, May 13 Pollard Tamara D. sold $1.14M worth of the stock or 35,000 shares. Daugbjerg Erik B sold $632,275 worth of stock or 17,500 shares. Arrott Zane W. also sold $1.59M worth of RSP Permian Inc (NYSE:RSPP) shares.

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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