Pointe Capital Management LLC Buys New Position in Mid-Con Energy Partners, LP (MCEP)
Pointe Capital Management LLC bought a new stake in shares of Mid-Con Energy Partners, LP (NASDAQ:MCEP) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 792,872 shares of the oil and gas producer’s stock, valued at approximately $1,078,000.
Separately, Wedbush Securities Inc. increased its stake in shares of Mid-Con Energy Partners, by 26.5% in the first quarter. Wedbush Securities Inc. now owns 287,422 shares of the oil and gas producer’s stock valued at $681,000 after buying an additional 60,208 shares during the last quarter. 12.81% of the stock is currently owned by institutional investors.
Mid-Con Energy Partners, LP (MCEP) opened at 1.08 on Thursday. The firm has a 50-day moving average price of $1.27 and a 200 day moving average price of $2.08. Mid-Con Energy Partners, LP has a 12-month low of $1.01 and a 12-month high of $3.37. The firm’s market cap is $32.34 million.
Mid-Con Energy Partners, (NASDAQ:MCEP) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.52) earnings per share (EPS) for the quarter. Mid-Con Energy Partners, had a negative return on equity of 14.91% and a negative net margin of 27.33%. The firm had revenue of $16.50 million for the quarter, compared to the consensus estimate of $14.19 million. During the same quarter in the prior year, the firm earned ($0.52) EPS. The company’s revenue was up 251.1% on a year-over-year basis. Equities research analysts forecast that Mid-Con Energy Partners, LP will post $0.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.043 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 15.93%. The ex-dividend date is Thursday, August 3rd.
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Separately, UBS AG restated a “sell” rating and set a $1.10 target price (down previously from $1.20) on shares of Mid-Con Energy Partners, in a research note on Thursday, August 3rd.
About Mid-Con Energy Partners,
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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