Insider Buying: Mid-Con Energy Partners Director Acquires 1,000 Shares of Stock (MCEP)
Mid-Con Energy Partners (NASDAQ:MCEP) Director C Fred Ball, Jr. acquired 1,000 shares of the stock on the open market in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $21.88 per share, for a total transaction of $21,880.00. Following the purchase, the director now directly owns 5,725 shares in the company, valued at approximately $125,263. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Mid-Con Energy Partners (NASDAQ:MCEP) traded up 0.36% on Tuesday, hitting $22.37. The stock had a trading volume of 46,316 shares. Mid-Con Energy Partners has a one year low of $20.75 and a one year high of $27.05. The stock has a 50-day moving average of $22.08 and a 200-day moving average of $22.54. The company has a market cap of $471.1 million and a P/E ratio of 17.19.
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.
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 investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Mid-Con Energy Partners currently has a consensus rating of “Hold” and an average price target of $25.14.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.