Memorial Production Partners LP (MEMP) Sees Unusually-High Trading Volume
Memorial Production Partners LP (NASDAQ:MEMP) shares saw an uptick in trading volume on Friday . 613,025 shares changed hands during trading, an increase of 13% from the previous session’s volume of 540,968 shares.The stock last traded at $2.04 and had previously closed at $2.01.
Separately, Zacks Investment Research upgraded shares of Memorial Production Partners from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $4.19.
The firm’s market cap is $173.65 million. The stock’s 50 day moving average price is $1.76 and its 200-day moving average price is $2.11.
Memorial Production Partners (NASDAQ:MEMP) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $1.77. During the same quarter in the previous year, the firm earned ($1.36) EPS. The company earned $68.06 million during the quarter, compared to analyst estimates of $121.62 million. Memorial Production Partners’s revenue was up 13.3% compared to the same quarter last year. Analysts predict that Memorial Production Partners LP will post ($2.04) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Wednesday, August 3rd.
Memorial Production Partners LP (the Partnership) owns, acquires and exploits oil and natural gas properties in North America. The Partnership is owned by its limited partners and general partner. Its general partner is responsible for managing all of the Partnership’s operations and activities. The Partnership operates in the acquisition, exploitation, development and production of oil and natural gas properties segment.
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