Memorial Production Partners LP (MEMP) Sees Unusually-High Trading Volume
Memorial Production Partners LP (NASDAQ:MEMP) saw unusually-high trading volume on Friday . Approximately 613,025 shares changed hands during mid-day 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 raised 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 research report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Memorial Production Partners currently has an average rating of “Hold” and a consensus price target of $4.19.
The stock’s market cap is $173.65 million. The stock has a 50-day moving average price of $1.77 and a 200 day moving average price of $2.11.
Memorial Production Partners (NASDAQ:MEMP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $1.77. During the same period in the previous year, the company posted ($1.36) EPS. The company earned $68.06 million during the quarter, compared to the consensus estimate of $121.62 million. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, equities analysts expect that Memorial Production Partners LP will post ($2.04) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 5.77%.
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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