Truist slashes price target on Rattler Midstream LP [RTLR] – find out why.

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Rattler Midstream LP [NASDAQ: RTLR] surged by $1.82 during the normal trading session on Monday and reaching a high of $15.19 during the day while it closed the day at $14.67. The company report on May 16, 2022 that Diamondback Energy, Inc. Announces Agreement to Acquire Publicly Held Units of Rattler Midstream LP.


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Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) and Rattler Midstream LP (NASDAQ: RTLR) (“Rattler”) today announced that, on May 15, 2022, they entered into a definitive agreement for Diamondback to acquire all of the publicly held common units representing the limited partner interests in Rattler not already owned by Diamondback and its subsidiaries. The agreement provides for an all-stock transaction whereby each public unitholder of Rattler would receive 0.113 of a share of common stock in Diamondback in exchange for each Rattler common unit owned, an exchange ratio that implies a premium of 17.3% for Rattler common units based on the closing prices of Rattler’s common units and Diamondback’s common stock as of May 13, 2022, and a premium of 9.3% based on Rattler’s and Diamondback’s 30 day volume-weighted average trading price as of the same date.

“The energy landscape has transformed dramatically since Rattler was taken public in 2019, and we believe this agreement to merge companies is in the best interests of both Diamondback and Rattler stakeholders,” stated Travis Stice, Chief Executive Officer of Diamondback and of the general partner of Rattler. “This merger will allow both companies to benefit from the simplicity and scale of the combined entity going forward.”.

Rattler Midstream LP stock has also gained 12.76% of its value over the past 7 days. However, RTLR stock has inclined by 14.61% in the 3 months of the year. Over the past six months meanwhile, it has gained 31.10% and gained 28.91% year-on date.

The market cap for RTLR stock reached $545.72 million, with 38.16 million shares outstanding and 36.83 million shares in the current float. Compared to the average trading volume of 316.58K shares, RTLR reached a trading volume of 8889054 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Rattler Midstream LP [RTLR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RTLR shares is $14.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RTLR stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Rattler Midstream LP shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 02, 2022. While these analysts kept the previous recommendation, Barclays dropped their target price from $12 to $11. The new note on the price target was released on August 13, 2021, representing the official price target for Rattler Midstream LP stock. Previously, the target price had yet another raise to $13, while Raymond James analysts kept a Outperform rating on RTLR stock. On December 17, 2020, analysts increased their price target for RTLR shares from 10 to 11.

The Average True Range (ATR) for Rattler Midstream LP is set at 0.66, with the Price to Sales ratio for RTLR stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 0.37. Price to Free Cash Flow for RTLR in the course of the last twelve months was 2.93 with Quick ratio for the last quarter at 1.30.

RTLR stock trade performance evaluation

Rattler Midstream LP [RTLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.76. With this latest performance, RTLR shares gained by 1.17% in over the last four-week period, additionally plugging by 31.10% over the last 6 months – not to mention a rise of 35.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RTLR stock in for the last two-week period is set at 62.19, with the RSI for the last a single of trading hit 67.73, and the three-weeks RSI is set at 59.28 for Rattler Midstream LP [RTLR]. The present Moving Average for the last 50 days of trading for this stock 13.74, while it was recorded at 13.22 for the last single week of trading, and 12.20 for the last 200 days.

Rattler Midstream LP [RTLR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Rattler Midstream LP [RTLR] shares currently have an operating margin of +44.64 and a Gross Margin at +50.09. Rattler Midstream LP’s Net Margin is presently recorded at +8.83.

Return on Equity for this stock inclined to 9.51, with Return on Assets sitting at 1.88.

Rattler Midstream LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Rattler Midstream LP [RTLR] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RTLR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rattler Midstream LP go to 13.90%.

Rattler Midstream LP [RTLR]: Insider Ownership positions

There are presently around $360 million, or 82.90% of RTLR stock, in the hands of institutional investors. The top three institutional holders of RTLR stocks are: CLEARBRIDGE INVESTMENTS, LLC with ownership of 3,121,548, which is approximately 1.144% of the company’s market cap and around 3.55% of the total institutional ownership; CARDINAL CAPITAL MANAGEMENT LLC /CT, holding 3,081,475 shares of the stock with an approximate value of $39.6 million in RTLR stocks shares; and CAPITAL WORLD INVESTORS, currently with $36.75 million in RTLR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Rattler Midstream LP stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 46 institutional holders increased their position in Rattler Midstream LP [NASDAQ:RTLR] by around 3,750,450 shares. Additionally, 36 investors decreased positions by around 4,741,845 shares, while 7 investors held positions by with 19,544,532 shares. The mentioned changes placed institutional holdings at 28,036,827 shares, according to the latest SEC report filing. RTLR stock had 18 new institutional investments in for a total of 2,759,248 shares, while 12 institutional investors sold positions of 1,651,183 shares during the same period.

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