Insider Selling: Cameron O. Smith Sells 3,450 Shares of Mid-Con Energy Partners Stock (MCEP)
Mid-Con Energy Partners (NASDAQ:MCEP) Director Cameron O. Smith unloaded 3,450 shares of Mid-Con Energy Partners stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $21.35, for a total transaction of $73,657.50. Following the transaction, the director now directly owns 21,636 shares of the company’s stock, valued at approximately $461,929. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on MCEP shares. Analysts at Stephens downgraded shares of Mid-Con Energy Partners from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 29th. They now have a $25.00 price target on the stock, down previously from $27.00. They noted that the move was a valuation call. Separately, analysts at Bank of America initiated coverage on shares of Mid-Con Energy Partners in a research note on Monday, May 5th. They set an “underperform” rating and a $24.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of Mid-Con Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Mid-Con Energy Partners has an average rating of “Hold” and a consensus target price of $25.14.
Mid-Con Energy Partners (NASDAQ:MCEP) traded up 1.65% during mid-day trading on Monday, hitting $21.56. The stock had a trading volume of 120,685 shares. Mid-Con Energy Partners has a 52 week low of $20.75 and a 52 week high of $27.05. The stock has a 50-day moving average of $22.25 and a 200-day moving average of $22.57. The company has a market cap of $454.1 million and a P/E ratio of 16.35.
Mid-Con Energy Partners (NASDAQ:MCEP) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.24. The company had revenue of $21.80 million for the quarter, compared to the consensus estimate of $21.49 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts expect that Mid-Con Energy Partners will post $1.51 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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