Mid-Con Energy Partners LP (MCEP) Short Interest Update
Mid-Con Energy Partners LP (NASDAQ:MCEP) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 339,577 shares, an increase of 2.3% from the May 15th total of 331,928 shares. Based on an average daily volume of 73,468 shares, the short-interest ratio is presently 4.6 days.
Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Mid-Con Energy Partners by 64.6% in the first quarter. Goldman Sachs Group Inc. now owns 84,146 shares of the oil and gas producer’s stock valued at $199,000 after buying an additional 33,018 shares during the last quarter. Morgan Stanley increased its position in Mid-Con Energy Partners by 8.5% in the first quarter. Morgan Stanley now owns 199,250 shares of the oil and gas producer’s stock valued at $471,000 after buying an additional 15,682 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in Mid-Con Energy Partners by 26.5% in the first quarter. Wedbush Securities Inc. now owns 287,422 shares of the oil and gas producer’s stock valued at $681,000 after buying an additional 60,208 shares during the last quarter. Hedge funds and other institutional investors own 4.04% of the company’s stock.
Shares of Mid-Con Energy Partners (NASDAQ MCEP) traded down 2.38% on Friday, hitting $1.64. 161,921 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $2.07 and its 200 day moving average is $2.51. The firm’s market cap is $49.11 million. Mid-Con Energy Partners has a 12 month low of $1.40 and a 12 month high of $3.37.
Mid-Con Energy Partners (NASDAQ:MCEP) last posted its earnings results on Monday, May 1st. The oil and gas producer reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.09. The firm had revenue of $18.48 million during the quarter. Mid-Con Energy Partners had a net margin of 24.03% and a return on equity of 12.66%. Mid-Con Energy Partners’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, equities analysts predict that Mid-Con Energy Partners will post $0.24 earnings per share for the current year.
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Mid-Con Energy Partners Company Profile
Mid-Con Energy Partners, LP is engaged in the ownership, acquisition, exploitation and development of producing oil and natural gas properties in North America, with a focus on enhanced oil recovery (EOR). The Company’s properties are located in the Mid-Continent and Permian Basin regions of the United States in over five areas: Southern Oklahoma; Northeastern Oklahoma; parts of Oklahoma, Colorado and Texas within the Hugoton; Texas Gulf Coast, and Texas within the Eastern Shelf of the Permian.
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