Mid-Con Energy Partners LP (NASDAQ:MCEP) shares fell 4% on Wednesday . The stock traded as low as $2.40 and last traded at $2.40, with a volume of 77,333 shares. The stock had previously closed at $2.50.

Several brokerages have recently weighed in on MCEP. FBR & Co reiterated a “hold” rating on shares of Mid-Con Energy Partners in a report on Tuesday, May 3rd. Zacks Investment Research lowered shares of Mid-Con Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $2.00.

The firm’s market cap is $71.79 million. The company’s 50-day moving average is $2.16 and its 200-day moving average is $2.22.

Mid-Con Energy Partners (NASDAQ:MCEP) last released its earnings results on Monday, August 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by $0.65. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. The company earned $4.69 million during the quarter, compared to analysts’ expectations of $20.66 million. The firm’s revenue for the quarter was down 63.2% compared to the same quarter last year. Equities research analysts expect that Mid-Con Energy Partners LP will post ($0.65) EPS for the current fiscal year.

In related news, CFO Michael David Peterson sold 26,250 shares of Mid-Con Energy Partners stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Also, Director C Fred Ball, Jr. purchased 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was bought at an average cost of $2.54 per share, for a total transaction 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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