Long Position on RTLR @ $17.75 on 6/10/2022 (Momentum)

Rattler Midstream LP (RTLR) owns, operates, develops, and acquires midstream and energy-related infrastructure assets in the Midland and Delaware Basins of the Permian Basin. 

The company provides crude oil and water-related midstream services.

As of December 31, 2021, it owned and operated 866 miles of crude oil, sourced water, and produced water gathering pipelines on acreage that overlays Diamondback Energy, Inc.'s core Midland and Delaware Basin development areas.

Rattler Midstream GP LLC serves as the general partner of the company. The company was formerly known as Rattler Midstream Partners LP. 

On May 3rd, Rattler Midstream LP Common Units (RTLR) reported 1st Quarter March 2022 earnings of $0.19 per share on revenue of $103.5 million. The consensus earnings estimate was $0.26 per share on revenue of $100.2 million. Revenue grew 4.7% on a year-over-year basis.

Shares have formed a bullish "cup and handle" and are expected to move higher from this formation.

Entry Point: $17.75

Stop Loss: $16.75

Trading Range: $9.5106 to $18.22

Target Price: $19.60

Position closed on 6/15/2022 at price of $16.50 with a -7.04% loss in 5 days.

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