Morgan Stanley Downgrades Midstates Petroleum Co. to Equal Weight (MPO)
Midstates Petroleum Co. (NYSE:MPO) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $7.00 target price on the stock. Morgan Stanley’s price objective points to a potential upside of 49.89% from the stock’s previous close.
Shares of Midstates Petroleum Co. (NYSE:MPO) traded down 11.89% on Friday, hitting $4.67. The stock had a trading volume of 3,448,727 shares. Midstates Petroleum Co. has a 52 week low of $4.26 and a 52 week high of $8.95. The stock has a 50-day moving average of $6.13 and a 200-day moving average of $5.6. The company’s market cap is $307.4 million.
Midstates Petroleum Co. (NYSE:MPO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.04. Analysts expect that Midstates Petroleum Co. will post $0.06 EPS for the current fiscal year.
Separately, analysts at MLV Capital initiated coverage on shares of Midstates Petroleum Co. in a research note to investors on Friday, November 22nd. They set a “buy” rating and a $9.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.85.
Midstates Petroleum Company, Inc is an independent exploration and production company. The Company’s areas of operation include Pine Prairie, South Bearhead Creek/Oretta, West Gordon and North Cowards Gully.
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