Mid-Con Energy Partners Director Acquires $21,950 in Stock (MCEP)
Mid-Con Energy Partners (NASDAQ:MCEP) Director Robert W. Berry purchased 1,000 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $21.95 per share, with a total value of $21,950.00. Following the transaction, the director now directly owns 16,115 shares in the company, valued at approximately $353,724. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on MCEP shares. 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 research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.28.
Shares of Mid-Con Energy Partners (NASDAQ:MCEP) opened at 22.05 on Friday. 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 $23.17 and a 200-day moving average of $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 released its earnings data 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. Analysts expect that Mid-Con Energy Partners will post $1.16 EPS 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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