Rose Rock Midstream LP (NYSE:RRMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “Rose Rock Midstream, L.P. owns, operates, develops and acquires a diversified portfolio of midstream energy assets. The Company is engaged in the business of crude oil gathering, transportation, storage and marketing in Colorado, Kansas, Montana, North Dakota, Oklahoma and Texas. Rose Rock Midstream, L.P. is based in Tulsa, Oklahoma. “

Separately, SunTrust Banks Inc. initiated coverage on Rose Rock Midstream in a report on Tuesday, June 14th. They set a “neutral” rating and a $29.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.44.

Analyst Recommendations for Rose Rock Midstream (NYSE:RRMS)

Rose Rock Midstream (NYSE:RRMS) opened at 27.17 on Wednesday. The firm’s 50 day moving average price is $25.57 and its 200-day moving average price is $21.51. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 31.30 and a beta of 2.21. Rose Rock Midstream has a 52 week low of $6.67 and a 52 week high of $32.44.

Rose Rock Midstream (NYSE:RRMS) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.24. The firm earned $169.14 million during the quarter, compared to the consensus estimate of $241.15 million. The company’s revenue was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. Analysts expect that Rose Rock Midstream will post $1.04 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of RRMS. State Street Corp boosted its position in Rose Rock Midstream by 3.9% in the first quarter. State Street Corp now owns 12,456 shares of the company’s stock valued at $148,000 after buying an additional 466 shares during the last quarter. Citigroup Inc. boosted its position in Rose Rock Midstream by 4.5% in the second quarter. Citigroup Inc. now owns 13,535 shares of the company’s stock valued at $358,000 after buying an additional 580 shares during the last quarter. BlackRock Investment Management LLC boosted its position in Rose Rock Midstream by 4.8% in the second quarter. BlackRock Investment Management LLC now owns 29,430 shares of the company’s stock valued at $777,000 after buying an additional 1,350 shares during the last quarter. Barclays PLC boosted its position in Rose Rock Midstream by 8.8% in the first quarter. Barclays PLC now owns 26,020 shares of the company’s stock valued at $287,000 after buying an additional 2,109 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Rose Rock Midstream by 16.7% in the second quarter. Neuberger Berman Group LLC now owns 32,316 shares of the company’s stock valued at $853,000 after buying an additional 4,623 shares during the last quarter.

About Rose Rock Midstream

Rose Rock Midstream, L.P. 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, Minnesota, Montana, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas and Wyoming.

5 Day Chart for NYSE:RRMS

Get a free copy of the Zacks research report on Rose Rock Midstream (RRMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rose Rock Midstream LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rose Rock Midstream LP and related companies with MarketBeat.com's FREE daily email newsletter.