Shares of RSP Permian (NYSE:RSPP) Struck With Upgrade From Deutsche Bank. Should Investors Now Buy the Stock?

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RSP Permian (NYSE:RSPP) Stock Upgrade

Deutsche Bank hiked shares of RSP Permian (NYSE:RSPP) from a “Hold” rating to a “Buy” rating in an interesting research report issued to clients on Wednesday, 2 December. The firm after the upgrade has a respectable $33.00 target price on the shares.

From a total of 25 analysts covering RSP Permian (NYSE:RSPP) stock, 18 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $39 while the lowest target price is $24. The mean of all analyst targets is $32.96 with a 10.67% above today’s ($28.01) stock price. RSP Permian was the topic of 29 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Wunderlich maintained shares on November 4 with “Buy” rating. Canaccord Genuity initiated shares with “Hold” rating and $28 target share price in a report from an October 20. Northland Capital maintained RSPP stock in a recent report from November 3 with “Outperform” rating. Roth Capital maintained the rating on October 13. Roth Capital has a “Buy” rating and a $31 price target on shares. Finally, Bank of America initiated the stock with “Buy” rating in a report issued on an October 27.

The stock decreased 0.04% or $0.01 on December 2, striking $28.01. Approximately 800 shares of stock traded hands. RSP Permian Inc (NYSE:RSPP) has declined 2.88% since April 29, 2015 and is downtrending. It has underperformed by 2.68% the S&P500.

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 has a market cap of $2.82 billion. 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. It has 23.7 P/E ratio. As of December 31, 2014, the Company has participated in the completion of 92 horizontal wells, 45 of which the Company operated.

According to Zacks Investment Research, “RSP Permian, Inc. is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves primarily in the Permian Basin of West Texas. RSP Permian, Inc. is based in Dallas, United States.” Get a free copy of the Zacks research report on RSP Permian Inc (RSPP).

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