Rattler Midstream (NASDAQ:RTLR) Lowered to Hold at Zacks Investment Research

Rattler Midstream (NASDAQ:RTLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Rattler Midstream LP owns, operates, develops and acquires midstream infrastructure assets primarily in the Midland and Delaware Basins of the Permian Basin. It provides crude oil, natural gas and water-related midstream services. Rattler Midstream LP is based in Austin, United States. “

Several other equities analysts have also recently issued reports on RTLR. Bank of America boosted their price objective on shares of Rattler Midstream from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays set a $19.00 price objective on shares of Rattler Midstream and gave the company a “hold” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $22.14.

RTLR traded up $0.17 during trading on Tuesday, hitting $15.86. The stock had a trading volume of 2,307 shares, compared to its average volume of 238,809. The business has a 50-day moving average of $17.51. Rattler Midstream has a twelve month low of $15.05 and a twelve month high of $20.24.

Rattler Midstream (NASDAQ:RTLR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The business had revenue of $111.77 million for the quarter, compared to the consensus estimate of $96.82 million. On average, sell-side analysts anticipate that Rattler Midstream will post 1.2 EPS for the current fiscal year.

In related news, CEO Travis D. Stice bought 5,695 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $17.56 per share, for a total transaction of $100,004.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. purchased a new stake in shares of Rattler Midstream in the 2nd quarter worth about $91,193,000. Zimmer Partners LP bought a new position in Rattler Midstream during the second quarter worth $43,505,000. Corvex Management LP bought a new position in Rattler Midstream during the second quarter worth $40,719,000. Cardinal Capital Management LLC CT bought a new position in Rattler Midstream during the second quarter worth $30,155,000. Finally, CIBC Private Wealth Group LLC lifted its stake in Rattler Midstream by 15.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,538,872 shares of the company’s stock worth $27,422,000 after purchasing an additional 200,294 shares during the last quarter. Institutional investors own 28.95% of the company’s stock.

Read More: What is a Candlestick Chart?

Get a free copy of the Zacks research report on Rattler Midstream (RTLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Rattler Midstream (NASDAQ:RTLR)

Receive News & Ratings for Rattler Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rattler Midstream and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit