Atlas Resource Partners, L.P. (ARP) Announces Quarterly Earnings, Beats Estimates By $0.01 EPS
Atlas Resource Partners, L.P. (NYSE:ARP) posted its quarterly earnings results on Wednesday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01, American Banking and Market News reports. The company had revenue of $157.35 million for the quarter, compared to the consensus estimate of $157.79 million.
In other Atlas Resource Partners, L.P. news, major shareholder Leon Cooperman bought 21,800 shares of Atlas Resource Partners, L.P. stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $20.36 per share, with a total value of $443,848.00. Following the purchase, the insider now directly owns 750,525 shares of the company’s stock, valued at approximately $15,280,689. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Atlas Resource Partners, L.P. (NYSE:ARP) traded down 1.30% during mid-day trading on Wednesday, hitting $20.52. The stock had a trading volume of 448,006 shares. Atlas Resource Partners, L.P. has a 1-year low of $18.30 and a 1-year high of $24.60. The stock’s 50-day moving average is $21.08 and its 200-day moving average is $20.90. The company’s market cap is $1.220 billion.
The company also recently announced a mar 14 dividend, which is scheduled for Thursday, May 15th. Stockholders of record on Wednesday, May 7th will be paid a dividend of $0.1933 per share. This represents a dividend yield of 11.33%. The ex-dividend date is Monday, May 5th.
Several analysts have recently commented on the stock. Analysts at Bank of America initiated coverage on shares of Atlas Resource Partners, L.P. in a research note on Monday. They set a “neutral” rating and a $23.00 price target on the stock. On a related note, analysts at Deutsche Bank initiated coverage on shares of Atlas Resource Partners, L.P. in a research note on Friday, March 28th. They set a “hold” rating and a $24.00 price target on the stock. Finally, analysts at RBC Capital initiated coverage on shares of Atlas Resource Partners, L.P. in a research note on Thursday, February 20th. They set an “outperform” rating and a $26.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.43.
Atlas Resource Partners, L.P. (NYSE:ARP) is a limited partnership and independent developer and producer of natural gas and oil, with operations in the Appalachian Basin, Illinois Basin and the Rocky Mountain region.
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