Mid-Con Energy Partners Lowered to Underperform at Zacks (MCEP)
Mid-Con Energy Partners (NASDAQ:MCEP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday, StockRatingsNetwork reports. They currently have a $21.80 price objective on the stock. Zacks‘ price target points to a potential downside of 5.18% from the stock’s previous close.
A number of other analysts have also recently weighed in on MCEP. Analysts at Raymond James downgraded shares of Mid-Con Energy Partners from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, November 6th. Analysts at UBS AG initiated coverage on shares of Mid-Con Energy Partners in a research note to investors on Tuesday, October 15th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.93.
Shares of Mid-Con Energy Partners (NASDAQ:MCEP) remained flat at $22.99 during trading on Tuesday. The stock had a trading volume of 56,844 shares. Mid-Con Energy Partners has a 52 week low of $20.37 and a 52 week high of $27.05. The stock’s 50-day moving average is $22.47 and its 200-day moving average is $23.42. The company has a market cap of $443.4 million and a P/E ratio of 17.79.
Mid-Con Energy Partners (NASDAQ:MCEP) last announced its earnings results on Tuesday, November 5th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by $0.32. The company had revenue of $22.98 million for the quarter, compared to the consensus estimate of $23.81 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. Analysts expect that Mid-Con Energy Partners will post $1.56 EPS for the current fiscal year.
Mid-Con Energy Partners, LP is engaged in the acquisition, development and production of oil and natural gas properties in the Mid-Continent region of the United States.
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