Rattler Midstream (NASDAQ:RTLR) Sets New 12-Month High at $12.95

Rattler Midstream LP (NASDAQ:RTLR)’s stock price hit a new 52-week high on Thursday . The company traded as high as $12.95 and last traded at $12.87, with a volume of 5820 shares trading hands. The stock had previously closed at $12.42.

RTLR has been the topic of a number of analyst reports. Barclays cut Rattler Midstream from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $12.00 to $11.00 in a research report on Friday, August 13th. Zacks Investment Research cut Rattler Midstream from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Rattler Midstream has an average rating of “Hold” and an average price target of $26.83.

The company has a quick ratio of 1.67, a current ratio of 1.91 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.92 billion, a P/E ratio of 14.79 and a beta of 4.32. The firm has a fifty day moving average price of $11.23 and a 200 day moving average price of $10.99.

Rattler Midstream (NASDAQ:RTLR) last issued its quarterly earnings results on Wednesday, August 4th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). Rattler Midstream had a net margin of 9.19% and a return on equity of 2.97%. The firm had revenue of $101.13 million for the quarter, compared to analyst estimates of $102.64 million. On average, sell-side analysts anticipate that Rattler Midstream LP will post 0.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 23rd. Shareholders of record on Monday, August 16th were paid a $0.25 dividend. This is a positive change from Rattler Midstream’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, August 13th. This represents a $1.00 annualized dividend and a yield of 7.76%. Rattler Midstream’s dividend payout ratio is presently 120.48%.

A number of large investors have recently added to or reduced their stakes in RTLR. Macquarie Group Ltd. increased its holdings in shares of Rattler Midstream by 793.8% in the second quarter. Macquarie Group Ltd. now owns 2,266,628 shares of the company’s stock worth $24,752,000 after acquiring an additional 2,013,028 shares in the last quarter. Cushing Asset Management LP increased its holdings in shares of Rattler Midstream by 59.8% in the first quarter. Cushing Asset Management LP now owns 1,607,519 shares of the company’s stock worth $17,088,000 after acquiring an additional 601,417 shares in the last quarter. Eagle Global Advisors LLC increased its holdings in shares of Rattler Midstream by 95.3% in the second quarter. Eagle Global Advisors LLC now owns 713,580 shares of the company’s stock worth $7,792,000 after acquiring an additional 348,240 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Rattler Midstream by 201.1% in the second quarter. Renaissance Technologies LLC now owns 459,067 shares of the company’s stock worth $5,013,000 after acquiring an additional 306,594 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Rattler Midstream by 14.2% in the second quarter. Goldman Sachs Group Inc. now owns 1,757,214 shares of the company’s stock worth $19,189,000 after acquiring an additional 219,009 shares in the last quarter. 22.46% of the stock is currently owned by hedge funds and other institutional investors.

About Rattler Midstream (NASDAQ:RTLR)

Rattler Midstream LP operates as a holding company. It engages in the operation, development and acquisition of midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin. The firm provides crude oil, natural gas and water related midstream services including fresh water sourcing and transportation and saltwater gathering and disposal.

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