Shares of Rose Rock Midstream LP (NASDAQ:RRMS) have been given a consensus rating of “Hold” by the eleven analysts that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.57.
A hedge fund recently raised its stake in Rose Rock Midstream stock. Jennison Associates raised its stake in Rose Rock Midstream LP (NASDAQ:RRMS) by 35.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The hedge fund owned 108,759 shares of the company’s stock after buying an additional 28,532 shares during the period. Jennison Associates owned about 0.30% of Rose Rock Midstream worth $2,647,000 as of its most recent filing with the SEC.
RRMS has been the subject of a number of research analyst reports. Goldman Sachs downgraded Rose Rock Midstream from a “buy” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $33.00 in a report on Friday, September 11th. Raymond James initiated coverage on Rose Rock Midstream in a report on Thursday, September 10th. They issued an “outperform” rating and a $36.00 price objective for the company. FBR & Co. decreased their price objective on Rose Rock Midstream from $55.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, November 9th. Robert W. Baird reissued a “neutral” rating and issued a $28.00 price objective (down from $57.00) on shares of Rose Rock Midstream in a report on Friday, October 30th. Finally, Barclays reissued a “buy” rating and issued a $36.00 price objective (down from $50.00) on shares of Rose Rock Midstream in a report on Monday, November 9th.
Rose Rock Midstream (NASDAQ:RRMS) traded down 0.2666% during trading on Monday, hitting $14.9999. 24,495 shares of the stock traded hands. The firm’s 50-day moving average is $18.29 and its 200-day moving average is $30.49. Rose Rock Midstream has a 12 month low of $14.25 and a 12 month high of $54.06. The stock has a market cap of $551.91 million and a P/E ratio of 10.3734.
Rose Rock Midstream (NASDAQ:RRMS) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.17. The company earned $241.09 million during the quarter, compared to analysts’ expectations of $238.88 million. The firm’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. On average, analysts forecast that Rose Rock Midstream will post $1.28 EPS for the current year.
Rose Rock Midstream, L.P. (NASDAQ:RRMS) owns, operates, develops and acquires diversified portfolio of midstream energy assets. The Company is engaged in providing midstream energy related services, such as crude oil gathering, transportation, storage, distribution and marketing in Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Texas and Wyoming. The Company is managed and operated by its general partner Rose Rock Midstream GP, LLC (Rose Rock GP), which is a wholly owned subsidiary of SemGroup Corporation (SemGroup). Its assets and operations include: Cushing Storage, Kansas and Oklahoma System, Bakken Shale Operations, Crude Oil Trucking and Platteville Facility.