Northland Securities Reaffirms “Buy” Rating for Rosehill Resources (NASDAQ:ROSE)

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Northland Securities restated their buy rating on shares of Rosehill Resources (NASDAQ:ROSE) in a research note published on Monday morning, AnalystRatings.com reports. They currently have a $8.00 price objective on the stock.

“We took ROSE management on an NDR last week, including its new CEO, David French, who was appointed to the role in March 2019. The trip reaffirmed our view that the company holds underappreciated assets and has a solid game plan in place to address pushbacks on the story including a smaller acreage position and complicated balance sheet. We also came away impressed with Mr. French’s abilities to lead ROSE and think he helps improve ROSE’s ability to tell the story to the street. Ongoing: A topic that was almost universally brought up in meetings was its potential sale of northern Delaware Basin water infrastructure assets. Management noted that the process continues and that a sale in 2019 is still likely. We think potential proceeds are in the $50MM-$75MM range.”,” the firm’s analyst wrote.

Separately, Zacks Investment Research raised Icon from a hold rating to a buy rating and set a $157.00 price objective on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $8.90.

NASDAQ:ROSE opened at $3.09 on Monday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 4.21. Rosehill Resources has a 1 year low of $1.95 and a 1 year high of $9.22. The business has a 50 day moving average price of $3.29. The company has a market cap of $141.45 million, a P/E ratio of 14.71 and a beta of 3.42.

Rosehill Resources (NASDAQ:ROSE) last released its quarterly earnings data on Tuesday, May 14th. The company reported $3.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $3.10. Rosehill Resources had a return on equity of 171.78% and a net margin of 6.78%. The business had revenue of $71.86 million for the quarter, compared to the consensus estimate of $74.48 million. On average, equities research analysts expect that Rosehill Resources will post 0.14 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Rosehill Resources in the 1st quarter worth approximately $40,000. Jane Street Group LLC purchased a new position in Rosehill Resources during the 4th quarter valued at $34,000. Bank of New York Mellon Corp purchased a new position in Rosehill Resources during the 4th quarter valued at $63,000. Northern Trust Corp boosted its holdings in Rosehill Resources by 150.8% during the 4th quarter. Northern Trust Corp now owns 40,343 shares of the company’s stock valued at $90,000 after acquiring an additional 24,258 shares during the period. Finally, Geode Capital Management LLC purchased a new position in Rosehill Resources during the 4th quarter valued at $127,000. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Rosehill Resources Company Profile

Rosehill Resources Inc, an independent oil and natural gas company, focuses on the acquisition, exploration, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. As of December 31, 2018, its portfolio included 67 gross operated producing horizontal wells in the Northern Delaware Basin and 4 gross operated producing horizontal wells in the Southern Delaware Basin; and working interests in approximately 6,665 gross acres in the Northern Delaware Basin and 9,219 gross acres in the Southern Delaware Basin, as well as 513 gross operated and 53 non-operated potential horizontal drilling locations in the Northern and Southern Delaware Basin.

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Analyst Recommendations for Rosehill Resources (NASDAQ:ROSE)

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