Mid-Con Energy Partners LP (MCEP) Stock Price Up 4.4%
Shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) rose 4.4% during trading on Wednesday . The stock traded as high as $2.64 and last traded at $2.63, with a volume of 139,770 shares. The stock had previously closed at $2.52.
MCEP has been the topic of several research analyst reports. Zacks Investment Research downgraded Mid-Con Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. 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 issued a buy rating to the company. Mid-Con Energy Partners has a consensus rating of “Hold” and a consensus price target of $2.00.
The stock’s 50 day moving average is $2.00 and its 200-day moving average is $2.12. The stock’s market cap is $78.07 million.
Mid-Con Energy Partners (NASDAQ:MCEP) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.65. The firm had revenue of $4.69 million for the quarter, compared to the consensus estimate of $20.66 million. During the same period in the previous year, the business earned ($0.26) EPS. The business’s quarterly revenue was down 63.2% on a year-over-year basis. On average, analysts forecast that Mid-Con Energy Partners LP will post $0.27 earnings per share for the current fiscal year.
In related news, CFO Michael David Peterson sold 26,250 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $2.02, for a total value of $53,025.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director C Fred Ball, Jr. acquired 40,000 shares of Mid-Con Energy Partners stock in a transaction that occurred on Wednesday, August 17th. The stock was acquired at an average cost of $2.54 per share, for a total transaction of $101,600.00. Following the purchase, the director now owns 81,310 shares of the company’s stock, valued at $206,527.40. The disclosure for this purchase can be found here.
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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