Mid-Con Energy Partners LP (MCEP) Shares Up 3.4%
Mid-Con Energy Partners LP (NASDAQ:MCEP)’s share price shot up 3.4% on Monday . The company traded as high as $2.56 and last traded at $2.41, with a volume of 150,000 shares traded. The stock had previously closed at $2.33.
A number of research firms have weighed in on MCEP. FBR & Co reaffirmed a “hold” rating on shares of Mid-Con Energy Partners in a research note on Tuesday, May 3rd. Zacks Investment Research raised shares of Mid-Con Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $2.00.
The firm’s market cap is $74.30 million. The company’s 50-day moving average price is $2.14 and its 200 day moving average price is $2.22.
Mid-Con Energy Partners (NASDAQ:MCEP) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.65. During the same quarter in the prior year, the company earned ($0.26) earnings per share. The firm had revenue of $4.69 million for the quarter, compared to the consensus estimate of $20.66 million. Mid-Con Energy Partners’s revenue was down 63.2% on a year-over-year basis. On average, analysts forecast that Mid-Con Energy Partners LP will post ($0.65) earnings per share for the current year.
In other news, CFO Michael David Peterson sold 26,250 shares of Mid-Con Energy Partners stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $2.02, for a total value of $53,025.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Fred Ball, Jr. bought 40,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was purchased at an average cost of $2.54 per share, for a total transaction of $101,600.00. Following the completion of the transaction, 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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