Insider Selling: Mid-Con Energy Partners Director Sells 1,100 Shares of Stock (MCEP)
Mid-Con Energy Partners (NASDAQ:MCEP) Director Cameron O. Smith sold 1,100 shares of the company’s stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $22.49, for a total transaction of $24,739.00. Following the completion of the transaction, the director now directly owns 17,780 shares of the company’s stock, valued at approximately $399,872. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Separately, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.03.
Mid-Con Energy Partners (NASDAQ:MCEP) traded down 0.31% on Monday, hitting $22.38. 96,111 shares of the company’s stock traded hands. Mid-Con Energy Partners has a 1-year low of $20.75 and a 1-year high of $27.05. The stock’s 50-day moving average is $22.91 and its 200-day moving average is $22.62. The company has a market cap of $472.8 million and a price-to-earnings ratio of 23.96.
Mid-Con Energy Partners (NASDAQ:MCEP) last posted its quarterly 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 $1.17 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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