Zacks Investment Research upgraded shares of Sanchez Production Partners (NYSEAMERICAN:SNMP) from a hold rating to a strong-buy rating in a research report released on Friday morning. The firm currently has $13.00 target price on the basic materials company’s stock.

According to Zacks, “Sanchez Production Partners LP is focused on the acquisition, development and production of oil and natural gas properties and other integrated assets. The company’s reserve primarily located in the Cherokee Basin in Oklahoma and Kansas, the Woodford Shale in the Arkoma Basin in Oklahoma, the Central Kansas Uplift in Kansas ,Texas and Louisiana. Sanchez Production Partners LP, formerly known as Sanchez Production Partners LLC, is headquartered in Houston, Texas. “

Separately, BidaskClub upgraded shares of Sanchez Production Partners from a sell rating to a hold rating in a report on Saturday, November 4th.

Sanchez Production Partners (SNMP) opened at $12.30 on Friday. Sanchez Production Partners has a fifty-two week low of $9.35 and a fifty-two week high of $15.75. The firm has a market cap of $181.03, a PE ratio of -2.18 and a beta of -0.42.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Yorkville Capital Management LLC raised its holdings in shares of Sanchez Production Partners by 16.8% during the second quarter. Yorkville Capital Management LLC now owns 256,613 shares of the basic materials company’s stock valued at $3,297,000 after purchasing an additional 36,948 shares during the period. Arrow Investment Advisors LLC bought a new stake in shares of Sanchez Production Partners during the second quarter worth about $605,000. Parkwood LLC increased its position in shares of Sanchez Production Partners by 23.5% during the third quarter. Parkwood LLC now owns 54,750 shares of the basic materials company’s stock worth $616,000 after acquiring an additional 10,405 shares in the last quarter. Stonepeak GP Investors Manager LLC increased its position in shares of Sanchez Production Partners by 88.5% during the second quarter. Stonepeak GP Investors Manager LLC now owns 393,291 shares of the basic materials company’s stock worth $5,054,000 after acquiring an additional 184,697 shares in the last quarter. Finally, Kalos Management Inc. bought a new stake in shares of Sanchez Production Partners during the third quarter worth about $117,000.

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Sanchez Production Partners Company Profile

Sanchez Midstream Partners LP, formerly Sanchez Production Partners LP, is focused on the acquisition, development, ownership and operation of midstream and other energy producing assets. The Company operates through two segments: the exploration and production of oil and natural gas, and the midstream business, which includes the Catarina gathering system.

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