In a report released today, Jeff Grampp from Northland Securities reiterated a Buy rating on Rosehill Resources Inc (ROSE), with a price target of $8. The company’s shares closed yesterday at $3.99.
Grampp noted:
“We reiterate our Outperform rating and $8 PT. Street: ROSE reported 1Q19 Adjusted EBITDAX of $46.5MM, lower than consensus of $51.6MM and slightly higher than our estimate of $46.1MM as higher production was partially offset by lower realized prices and higher cash operating costs. Production of 21.5 MBOEPD (70% oil) was higher than consensus of 20.7 MBOEPD and our estimate of 20.5 MBOEPD (73% oil). Unit cash operating costs of $12.55/BOE were higher than our estimate of $11.23/BOE and realized prices of $36.65/BOE were lower than our estimate of $37.57/BOE due to a lower oil mix and weaker natural gas and NGL pricing. The company reported 1Q19 CapEx of ~$72MM, slightly above our $65MM estimate and putting run-rate CapEx above full-year guidance of $220MM-$240MM.”
According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.4% and a 36.6% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rosehill Resources Inc with a $8 average price target.
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The company has a one-year high of $9.45 and a one-year low of $1.95. Currently, Rosehill Resources Inc has an average volume of 115.2K.
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Rosehill Resourcesis operates as an oil and gas exploration company. It engages in the acquisition, exploration, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The company was founded on April 25, 2017 and is headquartered in Houston, TX.
