RSP Permian (RSPP) has risen sharply, recording gains of 8.41% in the past 4 weeks. However, the stock has corrected -1.07% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 7.3% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 6.54% and the 50-Day Moving Average is 8.34%. RSP Permian (NYSE:RSPP): On Fridays trading session , Opening price of the stock was $38.28 with an intraday high of $38.37. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $37.28. However, the stock managed to close at $37.9, a loss of 0.42% for the day. On the previous day, the stock had closed at $38.06. The total traded volume of the day was 1,035,325 shares.
The company Insiders own 29.4% of RSP Permian shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -1.65% . Institutional Investors own 90.02% of RSP Permian shares. During last six month period, the net percent change held by insiders has seen a change of -4.08%. Also, Major Brokerage house, Goldman Sachs downgrades its ratings on RSP Permian (NYSE:RSPP). In the latest research report, Goldman Sachs raises the target price from $38 per share to $39 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on August 10, 2016.
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.