RSP Permian, Inc. (RSPP) Draws Bearish Attention After Forming Multiple Bottom Pattern

December 8, 2017 - By Darrin Black

Investors sentiment increased to 1.67 in 2017 Q2. Its up 0.62, from 1.05 in 2017Q1. It is positive, as 36 investors sold RSP Permian, Inc. shares while 52 reduced holdings. 62 funds opened positions while 85 raised stakes. 133.41 million shares or 11.48% more from 119.67 million shares in 2017Q1 were reported.
Caxton Associate Limited Partnership has 370,480 shares for 0.08% of their portfolio. Invesco Limited holds 0.01% or 938,170 shares. Cohen & Steers reported 0.01% stake. Channing Ltd holds 0.15% of its portfolio in RSP Permian, Inc. (NYSE:RSPP) for 119,160 shares. Oppenheimer Asset Mgmt reported 0.01% of its portfolio in RSP Permian, Inc. (NYSE:RSPP). Northwestern Mutual Wealth Mgmt owns 227 shares for 0% of their portfolio. Van Eck Assocs Corp holds 0.3% or 1.71M shares in its portfolio. Virginia Retirement Et Al has 18,290 shares for 0.01% of their portfolio. Fifth Third Bankshares stated it has 0% of its portfolio in RSP Permian, Inc. (NYSE:RSPP). Bnp Paribas Arbitrage Sa reported 0% in RSP Permian, Inc. (NYSE:RSPP). Ellington Mngmt Limited holds 7,900 shares or 0.04% of its portfolio. Raymond James Fincl Services Advsr reported 0% of its portfolio in RSP Permian, Inc. (NYSE:RSPP). 9,616 are owned by Verition Fund Mgmt Lc. New York-based Beaconlight Capital Limited Company has invested 1.77% in RSP Permian, Inc. (NYSE:RSPP). Waddell & Reed Incorporated holds 1.21M shares or 0.09% of its portfolio.

The stock of RSP Permian, Inc. (RSPP) shows a multiple bottoms pattern with $33.17 target or 9.00 % below today’s $36.45 share price. The 9 months chart pattern indicates high risk for the $5.78 billion company. It was reported on Dec, 8 by If the $33.17 price target is reached, the company will be worth $520.29M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 2.47% or $0.88 during the last trading session, reaching $36.45. About 1.38M shares traded. RSP Permian, Inc. (NYSE:RSPP) has risen 25.82% since December 8, 2016 and is uptrending. It has outperformed by 9.12% the S&P500.

Analysts await RSP Permian, Inc. (NYSE:RSPP) to report earnings on February, 26. They expect $0.25 EPS, up 150.00 % or $0.15 from last year’s $0.1 per share. RSPP’s profit will be $39.65 million for 36.45 P/E if the $0.25 EPS becomes a reality. After $0.18 actual EPS reported by RSP Permian, Inc. for the previous quarter, Wall Street now forecasts 38.89 % EPS growth.

RSP Permian, Inc. (NYSE:RSPP) Ratings Coverage

Among 34 analysts covering RSP Permian (NYSE:RSPP), 32 have Buy rating, 0 Sell and 2 Hold. Therefore 94% are positive. RSP Permian had 113 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Goldman Sachs on Wednesday, August 9 with “Buy”. The rating was initiated by CapitalOne on Thursday, October 6 with “Overweight”. On Monday, December 19 the stock rating was upgraded by Guggenheim to “Buy”. The company was initiated on Friday, August 14 by KeyBanc Capital Markets. Wells Fargo downgraded the stock to “Market Perform” rating in Friday, December 16 report. The stock has “Overweight” rating by Morgan Stanley on Wednesday, October 18. The rating was upgraded by UBS to “Buy” on Thursday, March 23. The stock of RSP Permian, Inc. (NYSE:RSPP) earned “Overweight” rating by Morgan Stanley on Tuesday, August 8. On Monday, September 25 the stock rating was maintained by Northland Capital with “Buy”. TH Capital maintained it with “Buy” rating and $31 target in Tuesday, October 13 report.

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