Mid-Con Energy Partners LP (MCEP) Trading Up 33.9%
Shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) were up 33.9% during trading on Friday . The stock traded as high as $2.64 and last traded at $2.57, with a volume of 789,419 shares changing hands. The stock had previously closed at $1.92.
Several analysts have commented on MCEP shares. Zacks Investment Research lowered shares of Mid-Con Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. FBR & Co reissued a “hold” rating on shares of Mid-Con Energy Partners in a research report on Tuesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.00.
The company’s 50-day moving average is $1.84 and its 200 day moving average is $2.01. The company’s market capitalization is $76.84 million.
Mid-Con Energy Partners (NASDAQ:MCEP) last released its earnings results on Monday, August 1st. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of $0.13 by $0.65. During the same period in the prior year, the company posted ($0.26) earnings per share. The business earned $4.69 million during the quarter, compared to the consensus estimate of $20.66 million. Mid-Con Energy Partners’s quarterly revenue was down 63.2% compared to the same quarter last year. On average, equities research analysts anticipate that Mid-Con Energy Partners LP will post $0.27 earnings per share for the current fiscal year.
In other Mid-Con Energy Partners news, CFO Michael David Peterson sold 26,250 shares of Mid-Con Energy Partners stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $2.02, for a total value of $53,025.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Mid-Con Energy Partners, LP is engaged in the ownership, acquisition, exploitation and development of producing oil and natural gas properties in North America, with a focus on enhanced oil recovery (EOR). The Company’s properties are located in the Mid-Continent and Permian Basin regions of the United States in over five areas: Southern Oklahoma; Northeastern Oklahoma; parts of Oklahoma, Colorado and Texas within the Hugoton; Texas Gulf Coast, and Texas within the Eastern Shelf of the Permian.
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