RMP Energy Inc (RMP) Shares Up 4.8%

RMP Energy Inc (TSE:RMP) shares shot up 4.8% during trading on Wednesday . The stock traded as high as C$0.66 and last traded at C$0.66. 518,682 shares changed hands during mid-day trading, an increase of 78% from the average session volume of 290,725 shares. The stock had previously closed at C$0.63.

Several brokerages recently commented on RMP. Eight Capital reaffirmed a “buy” rating and issued a C$1.00 target price on shares of RMP Energy in a research note on Wednesday, September 27th. National Bank Financial lifted 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. Raymond James Financial, Inc. decreased their target price on shares of RMP Energy from C$0.65 to C$0.60 and set a “market perform” rating on the stock in a research note on Wednesday. Macquarie raised shares of 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 note on Monday, September 18th. Finally, Scotiabank lifted 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$0.96.

The company’s market cap is $101.18 million. The firm’s 50 day moving average is $0.61 and its 200-day moving average is $0.64.

In other RMP Energy news, Director Josh Young bought 304,000 shares of RMP Energy stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of C$0.52 per share, for a total transaction of C$158,080.00.

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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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