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

Rattler Midstream LP [NASDAQ: RTLR] stock went on an upward path that rose over 2.91% on Tuesday, amounting to a one-week price increase of more than 7.26%. The company report on August 23, 2022 that TortoiseEcofin Announces Constituent Changes Due to Corporate Action.


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TortoiseEcofin today announced that Rattler Midstream LP (NASDAQ:RTLR) will be removed from the Tortoise MLP Index® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP), as a result of the approved merger with Diamondback Energy Inc (NASDAQ:FANG). Due to the merger, RTLR will be removed from both indices at market open on Thursday, August 25, 2022.

For Tortoise MLP Index® (TMLP), RTLR will be removed with a special rebalancing. RTLR will be dropped from Tortoise North American Pipeline IndexSM (TNAP) without special rebalancing.

Over the last 12 months, RTLR stock rose by 44.95%. The one-year Rattler Midstream LP stock forecast points to a potential upside of 8.7. The average equity rating for RTLR stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $584.75 million, with 38.24 million shares outstanding and 37.23 million shares in the current float. Compared to the average trading volume of 617.44K shares, RTLR stock reached a trading volume of 4659803 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $16.67 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 2.00. 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.

Wells Fargo have made an estimate for Rattler Midstream LP shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on August 16, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Hold. The new note on the price target was released on May 02, 2022, representing the official price target for Rattler Midstream LP stock. Previously, the target price had yet another drop from $12 to $11, while Barclays kept a Underweight rating on RTLR stock.

The Average True Range (ATR) for Rattler Midstream LP is set at 0.65, with the Price to Sales ratio for RTLR stock in the period of the last 12 months amounting to 1.45. The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 0.46. Price to Free Cash Flow for RTLR in the course of the last twelve months was 3.06 with Quick ratio for the last quarter at 1.20.

RTLR Stock Performance Analysis:

Rattler Midstream LP [RTLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.26. With this latest performance, RTLR shares gained by 13.33% in over the last four-week period, additionally plugging by 17.62% over the last 6 months – not to mention a rise of 44.95% 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 62.30, with the RSI for the last a single of trading hit 68.21, and the three-weeks RSI is set at 58.38 for Rattler Midstream LP [RTLR]. The present Moving Average for the last 50 days of trading for this stock 13.87, while it was recorded at 14.72 for the last single week of trading, and 13.26 for the last 200 days.

Insight into Rattler Midstream LP 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 1.20 and a Current Ratio set at 1.40.

RTLR Stock EPS

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 34.67%.

Rattler Midstream LP [RTLR] Insider Position Details

There are presently around $435 million, or 75.90% of RTLR stock, in the hands of institutional investors. The top three institutional holders of RTLR stocks are: JPMORGAN CHASE & CO with ownership of 3,244,773, which is approximately 196.32% of the company’s market cap and around 2.40% of the total institutional ownership; CLEARBRIDGE INVESTMENTS, LLC, holding 3,156,642 shares of the stock with an approximate value of $48.04 million in RTLR stocks shares; and CARDINAL CAPITAL MANAGEMENT LLC /CT, currently with $45.45 million in RTLR stock with ownership of nearly -3.087% of the company’s market capitalization.

Positions in Rattler Midstream LP stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 47 institutional holders increased their position in Rattler Midstream LP [NASDAQ:RTLR] by around 13,784,759 shares. Additionally, 50 investors decreased positions by around 15,001,400 shares, while 5 investors held positions by with 205,311 shares. The mentioned changes placed institutional holdings at 28,580,848 shares, according to the latest SEC report filing. RTLR stock had 23 new institutional investments in for a total of 6,692,702 shares, while 22 institutional investors sold positions of 8,680,317 shares during the same period.

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