Price Action Don’t Lie: Could Mid-Con Energy Partners LP Decline After Today’s Significant Increase?

Price Action Don't Lie: Could Mid Con Energy Partners LP Decline After Today's Significant Increase?

The stock of Mid-Con Energy Partners LP (NASDAQ:MCEP) is a huge mover today! Mid-Con Energy Partners LP (NASDAQ:MCEP) has declined 46.58% since April 27, 2016 and is downtrending. It has underperformed by 51.81% the S&P500.
The move comes after 5 months positive chart setup for the $71.42 million company. It was reported on Nov, 30 by Barchart.com. We have $2.51 PT which if reached, will make NASDAQ:MCEP worth $2.86 million more.

Analysts await Mid-Con Energy Partners LP (NASDAQ:MCEP) to report earnings on March, 6. They expect $0.09 EPS, down 52.63% or $0.10 from last year’s $0.19 per share. MCEP’s profit will be $2.67 million for 6.69 P/E if the $0.09 EPS becomes a reality. After $-0.09 actual EPS reported by Mid-Con Energy Partners LP for the previous quarter, Wall Street now forecasts -200.00% EPS growth.

Mid-Con Energy Partners LP (NASDAQ:MCEP) Ratings Coverage

Out of 6 analysts covering Mid-Con Energy Partners LP (NASDAQ:MCEP), 1 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 17% are positive. Mid-Con Energy Partners LP has been the topic of 10 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Oppenheimer given on Wednesday, August 5. Ladenburg Thalmann downgraded Mid-Con Energy Partners LP (NASDAQ:MCEP) on Friday, October 23 to “Neutral” rating. The stock of Mid-Con Energy Partners LP (NASDAQ:MCEP) has “Mkt Perform” rating given on Monday, October 12 by FBR Capital. The stock of Mid-Con Energy Partners LP (NASDAQ:MCEP) has “Hold” rating given on Tuesday, September 22 by Wunderlich. The stock of Mid-Con Energy Partners LP (NASDAQ:MCEP) earned “Underperform” rating by Raymond James on Wednesday, August 5. The rating was upgraded by UBS to “Buy” on Thursday, August 20. RBC Capital Markets maintained the stock with “Sector Perform” rating in Tuesday, August 4 report. Wells Fargo downgraded Mid-Con Energy Partners LP (NASDAQ:MCEP) on Thursday, February 18 to “Underperform” rating.

According to Zacks Investment Research, “Mid-Con Energy Partners LP owns, operates, acquires, exploits and develops producing oil and natural gas properties in North America, with a focus on the Mid-Continent region of the United States. The Company’s core areas of operation are located in Southern Oklahoma, Northeastern Oklahoma and parts of Oklahoma and Colorado within the Hugoton Basin. Mid-Con Energy Partners LP is based in Tulsa, Oklahoma.”

Insitutional Activity: The institutional sentiment decreased to 0.57 in 2016 Q2. Its down 0.43, from 1 in 2016Q1. The ratio dived, as 10 funds sold all Mid-Con Energy Partners LP shares owned while 4 reduced positions. 7 funds bought stakes while 7 increased positions. They now own 1.42 million shares or 29.51% more from 1.10 million shares in 2016Q1.
Bank Of America Corp De owns 2,300 shares or 0% of their US portfolio. Wells Fargo & Mn last reported 0% of its portfolio in the stock. Citigroup last reported 87 shares in the company. Farmers & Merchants Invests accumulated 0% or 1,000 shares. Manufacturers Life Insur Com The last reported 0% of its portfolio in the stock. Oppenheimer holds 516,669 shares or 0.03% of its portfolio. Raymond James & Associate last reported 0% of its portfolio in the stock. Goldman Sachs Grp Incorporated Inc last reported 0% of its portfolio in the stock. Creative Planning has invested 0% of its portfolio in Mid-Con Energy Partners LP (NASDAQ:MCEP). Deutsche Bank Ag accumulated 54,405 shares or 0% of the stock. Huntington Commercial Bank last reported 0.01% of its portfolio in the stock. Travelers accumulated 5,222 shares or 0% of the stock. Moreover, Geode Mgmt Limited Liability Corporation has 0% invested in Mid-Con Energy Partners LP (NASDAQ:MCEP) for 26,630 shares. Advisory Ltd Company has 0% invested in the company for 400 shares. Ladenburg Thalmann Financial last reported 0% of its portfolio in the stock.

Insider Transactions: Since June 15, 2016, the stock had 1 buying transaction, and 1 sale for $48,623 net activity. $101,648 worth of Mid-Con Energy Partners LP (NASDAQ:MCEP) was bought by BALL C FRED JR on Wednesday, August 17. On Wednesday, June 15 Peterson Michael David sold $53,025 worth of the stock or 26,250 shares.

More notable recent Mid-Con Energy Partners LP (NASDAQ:MCEP) news were published by: Marketwatch.com which released: “Mid-Con Energy stock price target cut to $4 from $6 at FBR & Co.” on December 15, 2011, also Globenewswire.com with their article: “Mid-Con Energy Partners, LP Announces Closing of Permian Acquisition …” published on August 11, 2016, Globenewswire.com published: “Mid-Con Energy Partners, LP Schedules Third Quarter 2016 Earnings Release and …” on October 24, 2016. More interesting news about Mid-Con Energy Partners LP (NASDAQ:MCEP) were released by: Globenewswire.com and their article: “Mid-Con Energy Partners, LP Announces Quarterly Distribution on Preferred Units” published on October 27, 2016 as well as Globenewswire.com‘s news article titled: “Mid-Con Energy Partners, LP Closes Hugoton Asset Divestiture” with publication date: July 28, 2016.

MCEP Company Profile

Mid-Con Energy Partners, LP, incorporated on July 27, 2011, 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. The Firm operates approximately 100% of its properties, as calculated on a barrel of oil equivalent (Boe) basis, through its affiliate, Mid-Con Energy Operating, LLC (Mid-Con Energy Operating). The Firm creates and manages the development, recompletion or work-over for all of the wells it operates and supervises operation and maintenance activities. Mid-Con Energy Operating provides the Company with management, administrative and operational services under a services agreement.

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