Rosetta Resources Inc (NASDAQ:ROSE) reported that the company aims to purchase 53,306 net acres in the Permian Basin from Comstock Resources Inc (NYSE:CRK) for $768 million.
Around 40,000 acres are located in the Wolfbone area of the Permian, and present output there is almost 3,300 barrels of oil equivalent a day.
Houston-based Rosetta is expecting a serious upside to this acreage. The corporation also reported there may be further upside if horizontal drilling is possible.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Petroquest Energy Inc (NYSE:PQ) rose +3.26% to settle at $4.75, Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) moved up +2.32% to end at $26.86 while EOG Resources Inc (NYSE:EOG) dropped -1.07% to finish at $130.42 on Friday.
Rosetta Resources Inc. (NASDAQ:ROSE) last session’s volume of 3.96 million shares was higher than its average volume of 1.00 million shares. The stock after opening at $50.00 hit high price of $53.18 and then closed at $49.98 by scoring -0.04%.
ROSE generated revenue of $613.50 million in the previous twelve months and earned $1595.30 million. The Company showed a positive 25.97% in the net profit margin as well as in its operating margin which remained at 45.57%. Company’s annual sales growth for the past five years was 11.04%.
The ROSE’s past twelve months’ price to sales ratio was 4.29 and price to cash ratio remained 71.51. As far as the returns are concerned, ROSE’s return on equity was recorded as 22.17% and return on investment increased 15.10% while its return on asset stayed at 12.84%.
The stock showed weekly upbeat performance of 0.48% which was maintained for the month at -1.81%. Likewise the positive performance for the quarter was recorded as 15.27% and for the year was -4.45% while the YTD performance remained at 10.28%.
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