Mid-Con Energy Partners LP (MCEP) Sees Unusually-High Trading Volume
Shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) saw an uptick in trading volume on Monday . 944,395 shares were traded during trading, an increase of 226% from the previous session’s volume of 289,407 shares.The stock last traded at $2.98 and had previously closed at $2.58.
A number of research firms have weighed in on MCEP. FBR & Co reaffirmed a “hold” rating on shares of Mid-Con Energy Partners in a research note on Tuesday, May 3rd. Zacks Investment Research raised shares of Mid-Con Energy Partners from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $2.00.
The firm’s market cap is $86.72 million. The firm has a 50 day moving average of $1.86 and a 200 day moving average of $2.05.
Mid-Con Energy Partners (NASDAQ:MCEP) last issued its earnings results on Monday, August 1st. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.65. During the same quarter in the previous year, the firm posted ($0.26) EPS. The company had revenue of $4.69 million for the quarter, compared to the consensus estimate of $20.66 million. The firm’s revenue for the quarter was down 63.2% compared to the same quarter last year. Equities analysts forecast that Mid-Con Energy Partners LP will post $0.27 EPS for the current year.
In related news, CFO Michael David Peterson sold 26,250 shares of Mid-Con Energy Partners stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $2.02, for a total value of $53,025.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
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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