RBC Capital Thinks RSP Permian’s Stock is Going to Recover

By Jason Carr

RBC Capital analyst Scott Hanold reiterated a Buy rating on RSP Permian (NYSE: RSPP) on June 15 and set a price target of $55. The company’s shares closed yesterday at $30.49, close to its 52-week low of $30.18.

According to TipRanks.com, Hanold is ranked 0 out of 5 stars with an average return of -9.9% and a 22.6% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Contango Oil & Gas Company, Sanchez Energy Corporation, and Quicksilver Resources Inc.

Currently, the analyst consensus on RSP Permian is Strong Buy and the average price target is $52.05, representing a 70.7% upside.

In a report issued on June 12, Williams Capital also reiterated a Buy rating on the stock with a $47 price target.

The company has a one year high of $46.92 and a one year low of $30.18. Currently, RSP Permian has an average volume of 2.05M.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is neutral on the stock. Last month, James Mutrie, the V.P. and General Counsel of RSPP sold 11,000 shares for a total of $429,880.

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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.