Mid-Con Energy Partners LP (MCEP) Trading Up 4.7%
Shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) were up 4.7% during trading on Monday . The company traded as high as $2.67 and last traded at $2.65, with a volume of 62,378 shares traded. The stock had previously closed at $2.53.
Separately, Zacks Investment Research raised Mid-Con Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.00.
The company’s market capitalization is $80.46 million. The stock’s 50-day moving average is $2.48 and its 200 day moving average is $2.38.
Mid-Con Energy Partners (NASDAQ:MCEP) last announced 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. The company earned $4.69 million during the quarter, compared to analyst estimates of $20.66 million. Mid-Con Energy Partners had a negative net margin of 141.44% and a positive return on equity of 5.23%. The firm’s revenue was down 63.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) earnings per share. Equities analysts expect that Mid-Con Energy Partners LP will post ($0.65) earnings per share for the current year.
In other Mid-Con Energy Partners news, Director C Fred Ball, Jr. bought 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were purchased at an average price of $2.54 per share, with a total value of $101,600.00. Following the completion of the acquisition, the director now directly owns 81,310 shares of the company’s stock, valued at approximately $206,527.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Mid-Con Energy Partners stock. Wedbush Securities Inc. raised its stake in shares of Mid-Con Energy Partners LP (NASDAQ:MCEP) by 66.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,800 shares of the company’s stock after buying an additional 137,500 shares during the period. Wedbush Securities Inc. owned approximately 1.16% of Mid-Con Energy Partners worth $665,000 as of its most recent SEC filing. 5.17% of the stock is owned by institutional investors.
Mid-Con Energy Partners Company Profile
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.
Receive News & Ratings for Mid-Con Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-Con Energy Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.