Shares of RMP Energy Inc. (TSE:RMP) fell 2.9% during trading on Tuesday . The stock traded as low as C$0.67 and last traded at C$0.68. 312,140 shares changed hands during trading, a decline of 9% from the average session volume of 342,050 shares. The stock had previously closed at C$0.70.
Several research firms recently commented on RMP. 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. Scotiabank increased their target price on shares of RMP Energy from C$0.70 to C$0.75 and gave the company a “sector perform” rating in a research note on Thursday, July 27th. Eight Capital reissued a “buy” rating and set a C$1.00 target price on shares of RMP Energy in a research note on Wednesday, September 27th. National Bank Financial increased their target price on shares of RMP Energy from C$0.90 to C$1.00 and gave the company an “outperform” rating in a research note on Tuesday, September 5th. Finally, Macquarie raised shares of RMP Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$0.65 to C$0.85 in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of C$0.83.
In other RMP Energy news, Director Josh Young bought 655,900 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of C$0.70 per share, with a total value of C$459,130.00.
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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