A statement released earlier today by Zacks Investment Research about RSP Permian Inc (NYSE:RSPP) bumps the target price to $47.00
- Updated: October 15, 2016
Stating a potential upside of 0.13%, Zacks Investment Research upped the price target of RSP Permian Inc (NYSE:RSPP) to $47.00
Yesterday RSP Permian Inc (NYSE:RSPP) traded 1.08% higher at $41.53. The company’s 50-day moving average is $38.79 and its 200-day moving average is $34.94. The last stock close price is up 20.78% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 18,091,589 shares of the stock were exchanged, up from an average trading volume of 1,525,110
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RSP Permian Inc has a 52 week low of $16.74 and a 52 week high of $42.72 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 28 firms have reported on the stock. The consensus target price is $35.33 with 7 firms rating the stock a strong buy, 19 firms rating the stock a buy, 5 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About RSP Permian Inc (NYSE:RSPP)
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 Company 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. The Company has drilled Lower Spraberry horizontal well and a Middle Spraberry horizontal well in the Permian Basin. In addition, it has also drilled a Wolfcamp B horizontal well in the North Midland Basin. The Company's estimated proved oil and natural gas reserves are approximately 159.2 million barrels of oil equivalent (MMBoe). Of the Company's reserves, approximately 41% were classified as Proved developed producing.
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