Raymond James analyst Justin Jenkins maintained a Hold rating on Rattler Midstream (RTLR) yesterday. The company’s shares closed last Wednesday at $6.26.
According to TipRanks.com, Jenkins is a 1-star analyst with an average return of -1.7% and a 52.0% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Phillips 66 Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rattler Midstream with a $9.71 average price target.
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Based on Rattler Midstream’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $88.74 million and net profit of $15.28 million. In comparison, last year the company earned revenue of $112 million and had a net profit of $51.48 million.
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Rattler Midstream LP is a holding company, which engages in the operation, development and acquisition of midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin. It provides crude oil, natural gas, and water-related midstream services including fresh water sourcing and transportation and saltwater gathering and disposal. The firm operates through the following segments: Midstream Services and Real Estate Operations. The company was founded in July 2018 and is headquartered in Midland, TX.
