Tuesday, June 24, 2014
With the energy sector as a whole being down almost 2% today, Rosetta Resources took a 5.15% hit in todays trading. This was expected out of energy stocks sooner or later, and especially E&P companies. One reason is the recent "tear" this stock has been on due to turmoil around the world specifically in Iraq, with oil prices spiking over the last weeks companies like ROSE are inclined to pump out more oil than normal which attracts investors. We saw an example of this with the recent large appreciation in stock price. With no overwhelming bad news on the stock, I believe this 5% dip is just investors collecting their profits with the recent upside we've witnessed. With this being said, our investment thesis is still in tact and theres no urgent action to be taken on the stock.