Mid-Con Energy Partners LP (MCEP) Trading Up 4.5%
Mid-Con Energy Partners LP (NASDAQ:MCEP) was up 4.5% during mid-day trading on Tuesday . The stock traded as high as $2.59 and last traded at $2.57, with a volume of 52,738 shares. The stock had previously closed at $2.46.
Several equities research analysts have issued reports on MCEP shares. Zacks Investment Research lowered Mid-Con Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. FBR & Co reiterated a “hold” rating on shares of Mid-Con Energy Partners in a report on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $2.00.
The firm’s market cap is $76.57 million. The stock’s 50-day moving average price is $2.05 and its 200 day moving average price is $2.16.
Mid-Con Energy Partners (NASDAQ:MCEP) last issued its quarterly earnings results on Monday, August 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.65. The business earned $4.69 million during the quarter, compared to analyst estimates of $20.66 million. During the same period in the previous year, the firm earned ($0.26) EPS. The business’s quarterly revenue was down 63.2% compared to the same quarter last year. Analysts forecast that Mid-Con Energy Partners LP will post $0.27 earnings per share for the current year.
In other Mid-Con Energy Partners news, CFO Michael David Peterson sold 26,250 shares of the stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $2.02, for a total value of $53,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Fred Ball, Jr. purchased 40,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was acquired at an average price of $2.54 per share, with a total value of $101,600.00. Following the purchase, the director now directly owns 81,310 shares in the company, valued at approximately $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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