JPMorgan Chase & Co. Acquires 19 Shares of Rose Rock Midstream LP (RRMS)
JPMorgan Chase & Co. raised its stake in Rose Rock Midstream LP (NYSE:RRMS) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,019 shares of the company’s stock after buying an additional 19 shares during the period. JPMorgan Chase & Co. owned approximately 0.61% of Rose Rock Midstream worth $5,912,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in RRMS. State Street Corp increased its stake in shares of Rose Rock Midstream by 3.9% in the first quarter. State Street Corp now owns 12,456 shares of the company’s stock worth $148,000 after buying an additional 466 shares in the last quarter. Barclays PLC increased its stake in shares of Rose Rock Midstream by 8.8% in the first quarter. Barclays PLC now owns 26,020 shares of the company’s stock worth $287,000 after buying an additional 2,109 shares in the last quarter. Creative Planning increased its stake in shares of Rose Rock Midstream by 47.7% in the second quarter. Creative Planning now owns 14,390 shares of the company’s stock worth $380,000 after buying an additional 4,650 shares in the last quarter. OTA Financial Group L.P. purchased a new stake in shares of Rose Rock Midstream during the second quarter worth approximately $399,000. Finally, Chicago Capital Management LLC purchased a new stake in shares of Rose Rock Midstream during the second quarter worth approximately $597,000.
Shares of Rose Rock Midstream LP (NYSE:RRMS) remained flat at $27.16 during mid-day trading on Wednesday. The firm has a 50-day moving average of $26.52 and a 200-day moving average of $22.91. Rose Rock Midstream LP has a 12-month low of $6.67 and a 12-month high of $30.44.
Rose Rock Midstream (NYSE:RRMS) last announced its earnings results on Thursday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.24. The business earned $169.14 million during the quarter, compared to analysts’ expectations of $241.15 million. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, equities analysts forecast that Rose Rock Midstream LP will post $1.25 earnings per share for the current year.
A number of equities research analysts have commented on the stock. SunTrust Banks Inc. assumed coverage on shares of Rose Rock Midstream in a research report on Tuesday, June 14th. They issued a “neutral” rating and a $29.00 price objective on the stock. Zacks Investment Research downgraded shares of Rose Rock Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. 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 has an average rating of “Hold” and an average target price of $22.44.
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.
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