Why Has Nomura Given RSP Permian (NYSE:RSPP) a $36.00 Price Target
Nomura analyst have started coverage with a Buy rating on RSP Permian (NYSE:RSPP) today and set a price target of $36.00. The company’s shares opened today at 27.52.
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 $65 while the lowest target price is $24. The mean of all analyst targets is $34.2 with a 13.38% above today’s ($27.5) stock price. RSP Permian was the topic of 30 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank upgraded shares on December 2 to “Buy” rating. Canaccord Genuity initiated shares with “Hold” rating and $28 target share price in a report from an October 20. RBC Capital Markets maintained RSPP stock in a recent report from November 4 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, Susquehanna initiated the stock with “Neutral” rating in a report issued on an October 30.
Approximately 377,082 shares of stock traded hands. RSP Permian Inc (NYSE:RSPP) has declined 6.72% since April 30, 2015 and is downtrending. It has underperformed by 6.43% 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 $2.74 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 23.26 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).