RMP Energy Inc (RMP) Shares Down 6%
RMP Energy Inc (TSE:RMP) shares traded down 6% during trading on Tuesday . The company traded as low as C$0.61 and last traded at C$0.63. 382,314 shares traded hands during mid-day trading, an increase of 61% from the average session volume of 237,751 shares. The stock had previously closed at C$0.67.
RMP has been the subject of a number of research reports. Scotiabank raised their target price on shares of RMP Energy from C$0.70 to C$0.75 and gave the stock a “sector perform” rating in a research note on Thursday, July 27th. Eight Capital restated a “buy” rating and set a C$1.00 target price on shares of RMP Energy in a research note on Wednesday. Raymond James Financial, Inc. cut their target price on shares of RMP Energy from C$0.60 to C$0.40 and set an “underperform” rating for the company in a research note on Wednesday, August 16th. National Bank Financial raised their target price on shares of RMP Energy from C$0.90 to C$1.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 5th. Finally, Macquarie upgraded shares of RMP Energy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$0.65 to C$0.85 in a research note on Monday, September 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of C$0.97.
The company’s market capitalization is $96.65 million. The stock has a 50 day moving average price of $0.52 and a 200-day moving average price of $0.66.
In related news, Director Josh Young purchased 304,000 shares of RMP Energy stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average price of C$0.52 per share, for a total transaction of C$158,080.00.
RMP Energy Company Profile
RMP Energy Inc is a Canada-based independent crude oil and natural gas company. The Company is engaged in the exploration for, development and production of crude oil, natural gas and natural gas liquids (NGLs) reserves in the Western Canadian Sedimentary Basin within the province of Alberta, Canada.
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