Rosetta Resources Given Buy Rating at Bank of America (ROSE)
Rosetta Resources (NASDAQ:ROSE)‘s stock had its “buy” rating reaffirmed by stock analysts at Bank of America in a report issued on Monday. They currently have a $62.00 target price on the stock, up from their previous target price of $60.00. Bank of America’s price objective suggests a potential upside of 15.09% from the stock’s previous close.
The analysts wrote, “We spent time last week on the road with management from Rosetta Resources (Chad Driskill, SVP Marketing and Business Development and Toni Green, VP, IR and Planning). Focus remains on delineation of the company’s 47,000 net acre position in the Southern Delaware portion of the Permian Basin, with results from 4 to 8 wells expected on the upcoming 2Q earnings call, including the company’s first drilled Wolfcamp B well and first 3 well pad. We continue to believe that ROSE is not receiving full credit for its Permian despite strong results from offset operators in multiple zones. We raise our NAV-based PO to $62/sh (from $60).”
A number of other analysts have also recently weighed in on ROSE. Analysts at KLR Group cut their price target on shares of Rosetta Resources from $46.00 to $2.00 in a research note on Friday, May 9th. Separately, analysts at BMO Capital Markets cut their price target on shares of Rosetta Resources from $52.00 to $46.00 in a research note on Tuesday, May 6th. Finally, analysts at Topeka Capital Markets cut their price target on shares of Rosetta Resources from $66.00 to $62.00 in a research note on Tuesday, May 6th. They now have a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Rosetta Resources presently has an average rating of “Hold” and an average target price of $52.82.
Rosetta Resources (NASDAQ:ROSE) traded up 0.43% on Monday, hitting $54.10. 162,830 shares of the company’s stock traded hands. Rosetta Resources has a one year low of $39.33 and a one year high of $65.30. The stock has a 50-day moving average of $49.02 and a 200-day moving average of $47.03. The company has a market cap of $3.324 billion and a P/E ratio of 18.15.
Rosetta Resources (NASDAQ:ROSE) last released its earnings data on Monday, May 5th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.10. The company had revenue of $214.60 million for the quarter, compared to the consensus estimate of $239.77 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. On average, analysts predict that Rosetta Resources will post $3.35 earnings per share for the current fiscal year.
Rosetta Resources Inc (NASDAQ:ROSE) is an independent exploration and production company engaged in the acquisition and development of onshore energy resources in the United States of America.
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