Analysts Expect Rattler Midstream LP (NASDAQ:RTLR) Will Announce Quarterly Sales of $106.21 Million

Equities analysts expect Rattler Midstream LP (NASDAQ:RTLR) to announce sales of $106.21 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Rattler Midstream’s earnings, with the highest sales estimate coming in at $113.70 million and the lowest estimate coming in at $101.00 million. The company is expected to issue its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Rattler Midstream will report full-year sales of $395.79 million for the current financial year, with estimates ranging from $311.90 million to $438.40 million. For the next financial year, analysts anticipate that the business will post sales of $502.05 million, with estimates ranging from $481.00 million to $529.20 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Rattler Midstream.

RTLR has been the topic of several recent research reports. Seaport Global Securities initiated coverage on shares of Rattler Midstream in a research note on Monday, June 17th. They set a “buy” rating and a $23.00 target price on the stock. Wells Fargo & Co assumed coverage on shares of Rattler Midstream in a research report on Monday, June 17th. They issued an “outperform” rating and a $22.00 price objective on the stock. Northland Securities assumed coverage on shares of Rattler Midstream in a research report on Monday, June 17th. They issued an “outperform” rating and a $24.00 price objective on the stock. Royal Bank of Canada assumed coverage on shares of Rattler Midstream in a research report on Monday, June 17th. They issued a “sector perform” rating and a $20.00 price objective on the stock. Finally, Scotiabank assumed coverage on shares of Rattler Midstream in a research report on Monday, June 17th. They issued a “sector outperform” rating on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Rattler Midstream has a consensus rating of “Buy” and a consensus price target of $22.54.

RTLR traded up $0.65 during trading hours on Wednesday, hitting $18.33. 491,288 shares of the company’s stock were exchanged, compared to its average volume of 414,317. Rattler Midstream has a 12-month low of $16.25 and a 12-month high of $20.24. The stock’s 50 day moving average price is $18.72.

In related news, CEO Travis D. Stice bought 5,695 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $17.56 per share, for a total transaction of $100,004.20. The transaction was disclosed in a filing with the SEC, which is available at this link.

Several institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. purchased a new position in Rattler Midstream during the 2nd quarter worth $1,835,000. CIBC Private Wealth Group LLC purchased a new position in Rattler Midstream during the 2nd quarter worth $25,955,000. Kayne Anderson Capital Advisors LP purchased a new position in Rattler Midstream during the 2nd quarter worth $15,490,000. BlueMountain Capital Management LLC purchased a new position in Rattler Midstream during the 2nd quarter worth $1,939,000. Finally, Cardinal Capital Management LLC CT purchased a new position in Rattler Midstream during the 2nd quarter worth $30,155,000. Institutional investors and hedge funds own 7.62% of the company’s stock.

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

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