Mid-Con Energy Partners LP (MCEP) Stock Price Down 5.1%
Mid-Con Energy Partners LP (NASDAQ:MCEP)’s share price traded down 5.1% during trading on Monday . The company traded as low as $2.40 and last traded at $2.42, with a volume of 301,338 shares. The stock had previously closed at $2.55.
A number of equities analysts have commented on the stock. FBR & Co reiterated a “hold” rating on shares of Mid-Con Energy Partners in a report on Tuesday, May 3rd. Zacks Investment Research upgraded shares of Mid-Con Energy Partners from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $2.00.
The stock’s 50 day moving average price is $1.94 and its 200 day moving average price is $2.10. The company’s market cap is $73.28 million.
Mid-Con Energy Partners (NASDAQ:MCEP) last released 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. The business had revenue of $4.69 million for the quarter, compared to analysts’ expectations of $20.66 million. During the same quarter in the previous year, the company posted ($0.26) EPS. The business’s revenue for the quarter was down 63.2% on a year-over-year basis. Equities research analysts forecast that Mid-Con Energy Partners LP will post $0.27 earnings per share for the current year.
In other news, CFO Michael David Peterson sold 26,250 shares of the 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 SEC, 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.
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