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Shares of Memorial Production Partners (NASDAQ:MEMP) have been given an average rating of “Buy” by the eleven analysts that are presently covering the stock, Stock Ratings News reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.75.

Separately, analysts at Zacks downgraded shares of Memorial Production Partners from a “neutral” rating to an “underperform” rating in a research note on Monday, August 11th. They now have a $22.00 price target on the stock.

Shares of Memorial Production Partners (NASDAQ:MEMP) opened at 23.36 on Tuesday. Memorial Production Partners has a 52-week low of $19.30 and a 52-week high of $24.75. The stock’s 50-day moving average is $23.34 and its 200-day moving average is $22.75. The company’s market cap is $1.676 billion.

Memorial Production Partners (NASDAQ:MEMP) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.86) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.43 by $2.29. The company had revenue of $123.30 million for the quarter, compared to the consensus estimate of $115.10 million. Memorial Production Partners’s revenue was up 36.8% compared to the same quarter last year. Analysts expect that Memorial Production Partners will post $1.70 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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