Analyst Price Target Update on RSP Permian (NYSE:RSPP)

RSP Permian (NYSE:RSPP): 17 analysts have set the short term price target of RSP Permian (NYSE:RSPP) at $37.59. The standard deviation of short term price target has been estimated at $3.37, implying that the actual price may fluctuate by this value. The higher and the lower price estimates are $ 45 and $33 respectively.

Many analysts have stated their opinion on the company shares. Brokerage firm Jefferies maintains its rating on RSP Permian (NYSE:RSPP). As per the latest information, the brokerage house raises the price target to $42 per share from a prior target of $38. The shares have been rated Buy. The rating by the firm was issued on June 8, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Daugbjerg Erik B, officer (VP of O&G Mktg/Bus. Dev.) of Rsp Permian, Inc., had unloaded 17,500 shares at an average price of $36.13 in a transaction dated on June 8, 2016. The total value of the transaction was worth $632,275.

RSP Permian (NYSE:RSPP) : On Monday heightened volatility was witnessed in RSP Permian (NYSE:RSPP) which led to swings in the share price. The stock opened for trading at $33.53 and hit $34.85 on the upside , eventually ending the session at $34.5, with a gain of 2.25% or 0.76 points. The heightened volatility saw the trading volume jump to 1,603,804 shares. The 52-week high of the share price is $36.42 and the company has a market cap of $3,507 million. The 52-week low of the share price is at $16.74 .

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.

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