Mid-Con Energy Partners LP (MCEP) Stock Price Down 10%
Shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) were down 10% on Tuesday . The company traded as low as $2.61 and last traded at $2.62, with a volume of 285,730 shares changing hands. The stock had previously closed at $2.91.
MCEP has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Mid-Con Energy Partners from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Thursday, April 21st. FBR & Co reaffirmed a “hold” rating on shares of Mid-Con Energy Partners in a research note on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $2.00.
The firm’s market cap is $73.01 million. The stock’s 50-day moving average price is $1.89 and its 200 day moving average price is $2.06.
Mid-Con Energy Partners (NASDAQ:MCEP) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.65. The business had revenue of $4.69 million for the quarter, compared to analysts’ expectations of $20.66 million. During the same period in the prior year, the company earned ($0.26) earnings per share. The firm’s revenue for the quarter 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 year.
In other news, CFO Michael David Peterson sold 26,250 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.