RMP Energy Inc. (RMP) Trading Down 2.9%
RMP Energy Inc. (TSE:RMP) shares dropped 2.9% during trading on Tuesday . The stock traded as low as C$0.67 and last traded at C$0.68. Approximately 312,140 shares were traded during trading, a decline of 9% from the average daily volume of 342,050 shares. The stock had previously closed at C$0.70.
RMP has been the subject of several research analyst reports. Eight Capital reiterated a “buy” rating and set a C$1.00 target price on shares of RMP Energy in a research report on Wednesday, September 27th. Raymond James Financial, Inc. upgraded RMP Energy from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from C$0.40 to C$0.65 in a research report on Tuesday, September 5th. Macquarie upgraded RMP Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$0.65 to C$0.85 in a research report on Monday, September 18th. National Bank Financial lifted their target price on RMP Energy from C$0.90 to C$1.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th. Finally, Scotiabank lifted their target price on RMP Energy from C$0.70 to C$0.75 and gave the stock a “sector perform” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. RMP Energy currently has an average rating of “Hold” and an average price target of C$0.83.
In other news, Director Josh Young acquired 655,900 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of C$0.70 per share, for a total transaction of C$459,130.00. Insiders purchased 1,234,400 shares of company stock valued at $803,870 over the last 90 days.
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About RMP Energy
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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