Mid-Con Energy Partners LP (MCEP) Shares Up 12.1%
Shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) shot up 12.1% during trading on Thursday . The company traded as high as $2.74 and last traded at $2.68, with a volume of 147,903 shares changing hands. The stock had previously closed at $2.39.
A number of brokerages recently commented on MCEP. FBR & Co reaffirmed a “hold” rating on shares of Mid-Con Energy Partners in a research report on Tuesday, May 3rd. Zacks Investment Research downgraded Mid-Con Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $2.00.
The stock has a 50 day moving average price of $1.89 and a 200-day moving average price of $2.06. The stock’s market capitalization is $79.56 million.
Mid-Con Energy Partners (NASDAQ:MCEP) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.65. During the same quarter last year, the firm posted ($0.26) earnings per share. The business earned $4.69 million during the quarter, compared to analyst estimates of $20.66 million. The business’s quarterly revenue was down 63.2% on a year-over-year basis. On average, 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 Mid-Con Energy Partners stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $2.02, for a total transaction of $53,025.00. The transaction was disclosed in a legal filing with the SEC, which is available 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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