Memorial Production Partners LP (MEMP) Stock Price Up 8.1%
Memorial Production Partners LP (NASDAQ:MEMP)’s share price rose 8.1% on Thursday . The stock traded as high as $2.01 and last traded at $2.01, with a volume of 790,311 shares changing hands. The stock had previously closed at $1.86.
Separately, Zacks Investment Research upgraded Memorial Production Partners from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.19.
The stock has a 50 day moving average of $1.77 and a 200-day moving average of $2.11. The firm’s market capitalization is $173.65 million.
Memorial Production Partners (NASDAQ:MEMP) last released its earnings results on Wednesday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $1.77. The business earned $68.06 million during the quarter, compared to the consensus estimate of $121.62 million. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.36) EPS. Equities analysts expect that Memorial Production Partners LP will post ($2.04) EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend was Wednesday, August 3rd.
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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