Memorial Production Partners LP (MEMP) Stock Price Up 8.1%
Memorial Production Partners LP (NASDAQ:MEMP)’s share price rose 8.1% during mid-day trading on Thursday . The stock traded as high as $2.01 and last traded at $2.01, with a volume of 790,311 shares changing hands. The stock had previously closed at $1.86.
Separately, Zacks Investment Research upgraded Memorial Production Partners from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Memorial Production Partners presently has an average rating of “Hold” and a consensus price target of $4.19.
The company has a 50 day moving average price of $1.76 and a 200-day moving average price of $2.11. The firm’s market cap is $167.80 million.
Memorial Production Partners (NASDAQ:MEMP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $1.77. During the same period in the prior year, the business earned ($1.36) earnings per share. The firm earned $68.06 million during the quarter, compared to the consensus estimate of $121.62 million. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts forecast that Memorial Production Partners LP will post ($2.04) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, August 5th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.97%.
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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