Memorial Production Partners LP (NASDAQ:MEMP) shares traded up 6.9% during trading on Friday . The stock traded as high as $2.08 and last traded at $2.01, with a volume of 869,225 shares changing hands. The stock had previously closed at $1.88.

Separately, Zacks Investment Research downgraded shares of Memorial Production Partners from a “buy” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.94.

The company’s 50-day moving average price is $1.76 and its 200 day moving average price is $2.13. The firm’s market capitalization is $167.46 million.

Memorial Production Partners (NASDAQ:MEMP) last posted its 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. The company had revenue of $68.06 million for the quarter, compared to the consensus estimate of $121.62 million. Memorial Production Partners’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.36) EPS. On average, analysts expect that Memorial Production Partners LP will post ($0.46) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, August 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 5.94%.

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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