Mid-Con Energy Partners LP (MCEP) Stock Price Up 3.7%
Mid-Con Energy Partners LP (NASDAQ:MCEP) shares rose 3.7% during mid-day trading on Monday . The stock traded as high as $2.49 and last traded at $2.49, with a volume of 56,600 shares. The stock had previously closed at $2.40.
Separately, Zacks Investment Research raised shares of Mid-Con Energy Partners from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $2.00.
The stock’s market capitalization is $74.48 million. The firm has a 50 day moving average of $2.19 and a 200-day moving average of $2.22.
Mid-Con Energy Partners (NASDAQ:MCEP) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.52) earnings per share 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 quarter in the previous year, the company earned ($0.26) EPS. Mid-Con Energy Partners’s revenue was down 63.2% compared to the same quarter last year. On average, equities research analysts forecast that Mid-Con Energy Partners LP will post ($0.65) EPS for the current year.
In related news, Director C Fred Ball, Jr. bought 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 price of $2.54 per share, with a total value of $101,600.00. Following the acquisition, the director now owns 81,310 shares of the company’s stock, valued at approximately $206,527.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $53,025.00. The disclosure for this sale 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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