Moors & Cabot Inc. bought a new stake in shares of Rattler Midstream LP (NASDAQ:RTLR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 35,000 shares of the company’s stock, valued at approximately $39,000.
Several other institutional investors have also made changes to their positions in RTLR. US Bancorp DE acquired a new stake in shares of Rattler Midstream during the second quarter valued at about $183,000. Sei Investments Co. grew its stake in shares of Rattler Midstream by 5.3% during the second quarter. Sei Investments Co. now owns 164,042 shares of the company’s stock valued at $1,791,000 after acquiring an additional 8,252 shares in the last quarter. Citigroup Inc. grew its stake in shares of Rattler Midstream by 73.0% during the second quarter. Citigroup Inc. now owns 112,412 shares of the company’s stock valued at $1,228,000 after acquiring an additional 47,438 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Rattler Midstream by 607.6% during the second quarter. Bank of Montreal Can now owns 52,290 shares of the company’s stock valued at $569,000 after acquiring an additional 44,900 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Rattler Midstream by 280.1% during the second quarter. FMR LLC now owns 279,205 shares of the company’s stock valued at $3,049,000 after acquiring an additional 205,747 shares in the last quarter. Institutional investors own 21.25% of the company’s stock.
A number of equities analysts recently commented on the company. TheStreet upgraded Rattler Midstream from a “d+” rating to a “c-” rating in a research note on Wednesday, October 20th. Credit Suisse Group lifted their price target on Rattler Midstream from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 12th. Finally, Zacks Investment Research downgraded Rattler Midstream from a “hold” rating to a “sell” rating in a research note on Thursday, January 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.17.
Rattler Midstream (NASDAQ:RTLR) last issued its earnings results on Wednesday, November 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). Rattler Midstream had a return on equity of 2.93% and a net margin of 9.01%. The business had revenue of $96.57 million during the quarter, compared to the consensus estimate of $102.61 million. During the same period in the prior year, the business earned $0.20 EPS. As a group, equities research analysts expect that Rattler Midstream LP will post 0.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 22nd. Shareholders of record on Monday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 8.11%. Rattler Midstream’s dividend payout ratio is currently 119.05%.
In other Rattler Midstream news, Director Steven E. West sold 18,175 shares of the firm’s stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $11.47, for a total value of $208,467.25. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Rattler Midstream Profile
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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