Rosetta Resources Inc. Announces Record Production and Proved Reserves for 2012 and Reduced Eagle Ford Well Costs
ROSE made a nice move up this week and now leads the pack, up almost 17% YTD. I will have more on this one and several comments on Sweet 16 companies tomorrow. I've been on the road for a couple days, so I have some catching up to do.
ROSE
Re: ROSE
Estimates update. After accounting for higher Q4 production, our new Q4 EPS, CFPS, and
EBITDA estimates are $0.99, $2.47, and $138.6MM vs. prior estimates of $0.93, $2.34, and
$131.6MM, respectively. Additionally, as we increased our 2013 production estimate to 50.01
Mboepd (+1.5 Mboepd), our 2013 EPS, CFPS, and EBITDA estimates increase to $4.10, $10.65,
and $597.2MM from $3.94, $10.28, and $577.5MM, respectively. We are maintaining our Buy
rating, and increasing our price target to $65 (NAV based and 6.6x 2013E EBITDA), from $57
previously. (Global Hunter Jan. 25)
EBITDA estimates are $0.99, $2.47, and $138.6MM vs. prior estimates of $0.93, $2.34, and
$131.6MM, respectively. Additionally, as we increased our 2013 production estimate to 50.01
Mboepd (+1.5 Mboepd), our 2013 EPS, CFPS, and EBITDA estimates increase to $4.10, $10.65,
and $597.2MM from $3.94, $10.28, and $577.5MM, respectively. We are maintaining our Buy
rating, and increasing our price target to $65 (NAV based and 6.6x 2013E EBITDA), from $57
previously. (Global Hunter Jan. 25)
Re: ROSE
They are almost up to my Fair Value Estimate. It is always good to have another analyst confirm what I'm seeing.
BTW for any of you that don't know this yet, the Eagle Ford Shale is a HUGE development project. If you want to see a booming oilfield go to San Antonio and drive south. Almost 300 BIG rigs and service trucks everywhere.
The midstream companies are going to make a killing from the Eagle Ford.
BTW for any of you that don't know this yet, the Eagle Ford Shale is a HUGE development project. If you want to see a booming oilfield go to San Antonio and drive south. Almost 300 BIG rigs and service trucks everywhere.
The midstream companies are going to make a killing from the Eagle Ford.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group