Mid-Con Energy Partners LP (MCEP) Trading Down 5.7%
Shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) traded down 5.7% on Monday . The company traded as low as $2.46 and last traded at $2.49, with a volume of 64,762 shares changing hands. The stock had previously closed at $2.64.
A number of analysts have recently weighed in on the stock. FBR & Co restated a “hold” rating on shares of Mid-Con Energy Partners in a 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 report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Mid-Con Energy Partners presently has an average rating of “Hold” and an average price target of $2.00.
The company has a 50 day moving average price of $2.03 and a 200-day moving average price of $2.15. The company’s market capitalization is $73.58 million.
Mid-Con Energy Partners (NASDAQ:MCEP) last issued its quarterly earnings data on Monday, August 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.65. During the same quarter in the prior year, the business posted ($0.26) EPS. The company had revenue of $4.69 million for the quarter, compared to analysts’ expectations of $20.66 million. The company’s revenue for the quarter was down 63.2% compared to the same quarter last year. On average, equities analysts anticipate that Mid-Con Energy Partners LP will post $0.27 earnings per share for the current fiscal year.
In related news, CFO Michael David Peterson sold 26,250 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $2.02, for a total value of $53,025.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director C Fred Ball, Jr. acquired 40,000 shares of Mid-Con Energy Partners stock in a transaction that occurred on Wednesday, August 17th. The stock was bought at an average price of $2.54 per share, for a total transaction of $101,600.00. Following the completion of the acquisition, the director now 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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