Insider Buying: Robert W. Berry Buys 1,308 Shares of Mid-Con Energy Partners Stock (MCEP)
Mid-Con Energy Partners (NASDAQ:MCEP) Director Robert W. Berry acquired 1,308 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $21.90 per share, for a total transaction of $28,645.20. Following the purchase, the director now directly owns 17,423 shares in the company, valued at approximately $381,564. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Mid-Con Energy Partners (NASDAQ:MCEP) traded up 0.18% during mid-day trading on Tuesday, hitting $22.13. The stock had a trading volume of 67,604 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 $23.15 and its 200-day moving average is $22.66. The company has a market cap of $467.6 million and a price-to-earnings ratio of 23.58.
Mid-Con Energy Partners (NASDAQ:MCEP) last announced its earnings results on Monday, August 4th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.54 earnings per share. Mid-Con Energy Partners’s revenue was down 14.7% compared to the same quarter last year. Analysts expect that Mid-Con Energy Partners will post $1.17 EPS for the current fiscal year.
MCEP has been the subject of a number of recent research reports. 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 assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $25.28.
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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