RSP Permian Receives a Buy from FBR Capital

By Carrie Williams

FBR Capital analyst Joseph Allman reiterated a Buy rating on RSP Permian (NYSE: RSPP) on November 1. The company’s shares closed yesterday at $36.81.

According to TipRanks.com, Allman is ranked 0 out of 5 stars with an average return of -8.9% and a 31.1% success rate. Allman covers the Basic Materials sector, focusing on stocks such as Approach Resources Inc., Whiting Petroleum Corp., and Continental Resources.

Currently, the analyst consensus on RSP Permian is Moderate Buy and the average price target is $44.80, representing a 21.7% upside.

In a report issued on October 17, Canaccord Genuity also reiterated a Buy rating on the stock with a $50 price target.

The company has a one year high of $43.30 and a one year low of $16.74. Currently, RSP Permian has an average volume of 1.85M.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RSPP in relation to earlier this year. Most recently, in August 2016, Kenneth Huseman, a Director at RSPP bought 2,000 shares for a total of $75,520.

RSP Permian, Inc. is an oil and natural gas company, which focuses 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 was founded in October 2010 and is headquartered in Dallas, TX.