Rosetta Resources reported a loss of 13 cents a share for the first quarter, below analysts' estimates of a loss of 8 cents a share for the quarter. Revenue fell 19.3% year over year to $173.14 million for the quarter, below analysts' estimates of $195.9 million for the quarter.
The company said that production averaged 66,000 barrels of oil equivalent a day in the first quarter, up 21% from the year-ago quarter, and near the high-end of its 64,000 to 67,000 barrels of oil equivalent a day forecast.
About 3.7 million shares of Rosetta Resources were traded by 12:54 p.m. Tuesday, above the company's average trading volume of about 3.5 million shares a day.
TheStreet Ratings team rates ROSETTA RESOURCES INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ROSETTA RESOURCES INC (ROSE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."
You can view the full analysis from the report here: ROSE Ratings Report