RSP Permian (RSPP) Shares are Up 3.66%

RSP Permian (RSPP) has been under a strong bear grip, hence the stock is down -0.94% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.73% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.66% in the last 1 week, and is up 2.39% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 3.9% and the 50-Day Moving Average is 5.17%. RSP Permian, Inc. is up 17.45% in the last 3-month period. Year-to-Date the stock performance stands at 47.4%.


RSP Permian (NYSE:RSPP): stock turned positive on Friday. Though the stock opened at $33.69, the bulls momentum made the stock top out at $36.03 level for the day. The stock recorded a low of $33.61 and closed the trading day at $35.95, in the green by 5.49%. The total traded volume for the day was 1,925,679. The stock had closed at $34.08 in the previous days trading.

Also, Morgan Stanley initiates coverage on RSP Permian (NYSE:RSPP) The current rating of the shares is Equal-weight. Equity Analysts at the Firm announces the price target to $43 per share. The rating by the firm was issued on July 21, 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.

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