RSP Permian (RSPP) has risen sharply, recording gains of 0.93% in the past 4 weeks. However, the stock has corrected -0.8% in the past 1 week, providing a good buying opportunity on dips. RSP Permian (RSPP) : During the past 4 weeks, traders have been relatively bearish on RSP Permian (RSPP), hence the stock is down -5.45% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.41% relative to the S&P 500.
RSP Permian (NYSE:RSPP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.78 and $34.42 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $35.01. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.68, notching a gain of 0.03% for the day. The total traded volume was 916,862 . The stock had closed at $34.67 on the previous day.
The stock has recorded a 20-day Moving Average of 0.12% and the 50-Day Moving Average is 1.92%. RSP Permian, Inc. is up 7.64% in the last 3-month period. Year-to-Date the stock performance stands at 42.19%.
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.