Mid-Con Energy Partners LP (MCEP) Stock Price Down 10%
Mid-Con Energy Partners LP (NASDAQ:MCEP) fell 10% during trading on Tuesday . The company traded as low as $2.61 and last traded at $2.62, with a volume of 285,730 shares trading hands. The stock had previously closed at $2.91.
A number of brokerages have recently commented on MCEP. FBR & Co reaffirmed a “hold” rating on shares of Mid-Con Energy Partners in a report on Tuesday, May 3rd. Zacks Investment Research cut shares of Mid-Con Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $2.00.
The stock has a 50-day moving average of $1.86 and a 200-day moving average of $2.05. The stock’s market capitalization is $75.09 million.
Mid-Con Energy Partners (NASDAQ:MCEP) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.65. During the same period last year, the firm posted ($0.26) earnings per share. The company had revenue of $4.69 million for the quarter, compared to analyst estimates of $20.66 million. The company’s quarterly revenue was down 63.2% on a year-over-year basis. Equities analysts predict that Mid-Con Energy Partners LP will post $0.27 EPS for the current fiscal year.
In other Mid-Con Energy Partners news, CFO Michael David Peterson sold 26,250 shares of the firm’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $2.02, for a total transaction of $53,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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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