Insider Buying: Robert W. Berry Buys 1,000 Shares of Mid-Con Energy Partners Stock (MCEP)
Mid-Con Energy Partners (NASDAQ:MCEP) Director Robert W. Berry bought 1,000 shares of Mid-Con Energy Partners stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $21.95 per share, with a total value of $21,950.00. Following the acquisition, the director now directly owns 16,115 shares in the company, valued at approximately $353,724. The transaction was disclosed in a document filed with the SEC, which is available at this link.
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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Mid-Con Energy Partners has an average rating of “Hold” and a consensus target price of $25.28.
Shares of Mid-Con Energy Partners (NASDAQ:MCEP) traded up 0.23% during mid-day trading on Friday, hitting $22.05. The stock had a trading volume of 86,005 shares. Mid-Con Energy Partners has a 52-week low of $20.75 and a 52-week high of $27.05. The stock’s 50-day moving average is $23.18 and its 200-day moving average is $22.68. The company has a market cap of $465.9 million and a price-to-earnings ratio of 23.48.
Mid-Con Energy Partners (NASDAQ:MCEP) last announced its earnings results on Monday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.26. The company had revenue of $22.26 million for the quarter, compared to the consensus estimate of $23.34 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. On average, analysts predict that Mid-Con Energy Partners will post $1.16 earnings per share 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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