Mid-Con Energy Partners (MCEP) Releases Quarterly Earnings Results, Misses Expectations By $0.26 EPS
Mid-Con Energy Partners (NASDAQ:MCEP) issued its quarterly earnings data on Monday. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.44 by $0.26, Analyst Ratings Network reports. The company had revenue of $22.26 million for the quarter, compared to the consensus estimate of $23.34 million.
Mid-Con Energy Partners (NASDAQ:MCEP) traded up 1.72% on Monday, hitting $23.09. 84,520 shares of the company’s stock traded hands. Mid-Con Energy Partners has a one year low of $20.75 and a one year high of $27.05. The stock’s 50-day moving average is $23.1 and its 200-day moving average is $22.70. The company has a market cap of $486.3 million and a P/E ratio of 17.50.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 11th. Shareholders of record on Monday, August 4th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 8.92%. The ex-dividend date of this dividend is Thursday, July 31st.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Mid-Con Energy Partners from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 22nd. They now have a $26.10 price target on the stock. 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.62.
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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