Rattler Midstream LP (NASDAQ:RTLR) Expected to Post Quarterly Sales of $107.17 Million

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Wall Street analysts expect Rattler Midstream LP (NASDAQ:RTLR) to report sales of $107.17 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Rattler Midstream’s earnings, with estimates ranging from $105.04 million to $113.50 million. The company is scheduled to report its next earnings report after the market closes on Tuesday, November 5th.

On average, analysts expect that Rattler Midstream will report full year sales of $399.89 million for the current fiscal year, with estimates ranging from $311.90 million to $436.90 million. For the next financial year, analysts anticipate that the firm will post sales of $501.89 million, with estimates ranging from $483.00 million to $526.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Rattler Midstream.

Rattler Midstream (NASDAQ:RTLR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share 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 analysts’ expectations of $96.82 million.

Several brokerages have recently commented on RTLR. Barclays set a $19.00 price target on shares of Rattler Midstream and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Bank of America lifted their price target on shares of Rattler Midstream from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Zacks Investment Research upgraded shares of Rattler Midstream from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $22.14.

In other news, CEO Travis D. Stice acquired 5,695 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $17.56 per share, for a total transaction of $100,004.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. bought a new position in Rattler Midstream in the second quarter valued at approximately $91,193,000. Zimmer Partners LP bought a new position in Rattler Midstream in the second quarter valued at approximately $43,505,000. Corvex Management LP bought a new position in Rattler Midstream in the second quarter valued at approximately $40,719,000. Cardinal Capital Management LLC CT bought a new position in Rattler Midstream in the second quarter valued at approximately $30,155,000. Finally, Waddell & Reed Financial Inc. bought a new position in Rattler Midstream in the second quarter valued at approximately $26,224,000. Hedge funds and other institutional investors own 28.95% of the company’s stock.

Shares of NASDAQ:RTLR opened at $15.22 on Monday. Rattler Midstream has a one year low of $15.05 and a one year high of $20.24. The business’s 50 day simple moving average is $17.69.

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Earnings History and Estimates for Rattler Midstream (NASDAQ:RTLR)

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