Memorial Production Partners Short Interest Up 33.8% in June (MEMP)
Memorial Production Partners (NASDAQ:MEMP) was the recipient of a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 987,491 shares, an increase of 33.8% from the May 30th total of 738,003 shares, Stock Ratings Network.com reports. Based on an average trading volume of 241,287 shares, the short-interest ratio is presently 4.1 days. Approximately 1.8% of the company’s shares are sold short.
A number of analysts have recently weighed in on MEMP shares. Analysts at Oppenheimer reiterated an “outperform” rating on shares of Memorial Production Partners in a research note on Friday, May 9th. They now have a $24.00 price target on the stock, down previously from $25.00. Separately, analysts at Wells Fargo & Co. downgraded shares of Memorial Production Partners from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 7th. Finally, analysts at Raymond James raised their price target on shares of Memorial Production Partners from $24.00 to $26.00 in a research note on Tuesday, May 6th. They now have a “strong-buy” rating on the stock. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $24.70.
Memorial Production Partners (NASDAQ:MEMP) opened at 24.12 on Thursday. Memorial Production Partners has a 52 week low of $18.19 and a 52 week high of $24.75. The stock’s 50-day moving average is $23.0 and its 200-day moving average is $22.42. The company’s market cap is $1.477 billion.
Memorial Production Partners (NASDAQ:MEMP) last released its earnings data on Wednesday, May 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.98. The company had revenue of $100.90 million for the quarter, compared to the consensus estimate of $106.47 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 48.2% on a year-over-year basis. Analysts expect that Memorial Production Partners will post $1.94 EPS for the current fiscal year.
Memorial Production Partners LP, is a limited partnership formed by Memorial Resource to own, acquire and exploit oil natural gas properties in North America.
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