Mid-Con Energy Partners LP (MCEP) Trading 3.4% Higher
Mid-Con Energy Partners LP (NASDAQ:MCEP) traded up 3.4% during trading on Monday . The stock traded as high as $2.56 and last traded at $2.41, with a volume of 150,000 shares traded. The stock had previously closed at $2.33.
Several equities research analysts recently commented on the stock. FBR & Co reiterated a “hold” rating on shares of Mid-Con Energy Partners in a research report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Mid-Con Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Mid-Con Energy Partners has an average rating of “Hold” and a consensus target price of $2.00.
The stock’s market cap is $72.39 million. The stock has a 50-day moving average price of $2.10 and a 200 day moving average price of $2.18.
Mid-Con Energy Partners (NASDAQ:MCEP) last posted its earnings results on Monday, August 1st. The company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.65. The firm earned $4.69 million during the quarter, compared to analyst estimates of $20.66 million. The business’s revenue was down 63.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) earnings per share. Analysts forecast that Mid-Con Energy Partners LP will post ($0.65) earnings per share for the current fiscal year.
In other Mid-Con Energy Partners news, CFO Michael David Peterson sold 26,250 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $2.02, for a total transaction of $53,025.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Fred Ball, Jr. acquired 40,000 shares of Mid-Con Energy Partners stock in a transaction on Wednesday, August 17th. The shares were bought at an average cost of $2.54 per share, with a total value of $101,600.00. Following the completion of the purchase, the director now owns 81,310 shares in the company, valued at $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.