Rattler Midstream (NASDAQ:RTLR) Shares Gap Up to $13.24

Rattler Midstream LP (NASDAQ:RTLR – Get Rating)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.24, but opened at $13.96. Rattler Midstream shares last traded at $13.83, with a volume of 307 shares.

Wall Street Analyst Weigh In

Separately, Raymond James upped their target price on shares of Rattler Midstream from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th.

Rattler Midstream Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.33. The stock’s fifty day moving average price is $14.67 and its 200-day moving average price is $13.82. The firm has a market cap of $2.00 billion, a PE ratio of 14.87 and a beta of 3.02.

Rattler Midstream (NASDAQ:RTLR – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). Rattler Midstream had a net margin of 9.65% and a return on equity of 2.98%. The firm had revenue of $103.46 million during the quarter, compared to analysts’ expectations of $98.38 million. As a group, equities analysts expect that Rattler Midstream LP will post 0.93 EPS for the current fiscal year.

Rattler Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date of this dividend was Thursday, May 12th. Rattler Midstream’s dividend payout ratio is currently 129.03%.

Institutional Investors Weigh In On Rattler Midstream

A number of hedge funds have recently modified their holdings of RTLR. Tortoise Index Solutions LLC boosted its stake in Rattler Midstream by 3.6% during the fourth quarter. Tortoise Index Solutions LLC now owns 31,843 shares of the company’s stock worth $362,000 after buying an additional 1,093 shares during the period. Alphastar Capital Management LLC boosted its stake in Rattler Midstream by 7.1% during the second quarter. Alphastar Capital Management LLC now owns 19,246 shares of the company’s stock worth $263,000 after buying an additional 1,275 shares during the period. UBS Group AG boosted its stake in Rattler Midstream by 3.0% during the first quarter. UBS Group AG now owns 47,367 shares of the company’s stock worth $661,000 after buying an additional 1,363 shares during the period. Sanders Morris Harris LLC boosted its stake in Rattler Midstream by 20.0% during the first quarter. Sanders Morris Harris LLC now owns 12,000 shares of the company’s stock worth $168,000 after buying an additional 2,000 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its stake in Rattler Midstream by 3.2% during the first quarter. Great Valley Advisor Group Inc. now owns 65,115 shares of the company’s stock worth $910,000 after buying an additional 2,016 shares during the period. Hedge funds and other institutional investors own 19.84% of the company’s stock.

Rattler Midstream Company Profile

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Rattler Midstream LP owns, operates, develops, and acquires midstream and energy-related infrastructure assets in the Midland and Delaware Basins of the Permian Basin. The company provides crude oil and water-related midstream services. As of December 31, 2021, it owned and operated 866 miles of crude oil, sourced water, and produced water gathering pipelines on acreage that overlays Diamondback Energy, Inc's core Midland and Delaware Basin development areas.