RSP Permian, Inc. RSPP was a big mover last session, as the company saw its shares rise nearly 16% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $37.76–$41.68 in the past one-month time frame, witnessed a sharp increase yesterday.
The shares rose after the company agreed to an all-stock merger with Concho Resources.
The company has seen seven positive estimate revisions in the past two months. Its Zacks Consensus Estimate for the current quarter has also revised upward over the same time frame. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
RSP Permian currently has a Zacks Rank #3 (Hold) while its Earnings ESPis negative.
RSP Permian, Inc. Price and Consensus
Another stock worth considering in the Oil and Gas – Exploration and Production – United States industry is Bonanza Creek Energy, Inc. BCEI which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is RSPP going up? Or down? Predict to see what others think: Up or Down
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