Mid-Con Energy Partners LP (MCEP) Shares Up 4.4%
Mid-Con Energy Partners LP (NASDAQ:MCEP)’s share price shot up 4.4% on Wednesday . The stock traded as high as $2.64 and last traded at $2.63, with a volume of 139,770 shares trading hands. The stock had previously closed at $2.52.
Several brokerages recently weighed in on MCEP. FBR & Co reaffirmed a “hold” rating on shares of Mid-Con Energy Partners in a research report on Tuesday, May 3rd. Zacks Investment Research cut shares of Mid-Con Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Mid-Con Energy Partners presently has an average rating of “Hold” and a consensus target price of $2.00.
The firm’s market cap is $76.87 million. The firm’s 50-day moving average is $1.96 and its 200 day moving average is $2.11.
Mid-Con Energy Partners (NASDAQ:MCEP) last issued its quarterly earnings data on Monday, August 1st. The company reported ($0.52) EPS 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 analysts’ expectations of $20.66 million. The company’s revenue was down 63.2% on a year-over-year basis. During the same period last year, the business posted ($0.26) earnings per share. Equities analysts expect that Mid-Con Energy Partners LP will post $0.27 earnings per share for the current year.
In other news, CFO Michael David Peterson sold 26,250 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $2.02, for a total transaction of $53,025.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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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