Tuesday, December 1, 2020

Mid-Con Energy Partners LP [MCEP] Stock trading around $2.62 per share: What’s Next?

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Mid-Con Energy Partners LP [NASDAQ: MCEP] stock went on an upward path that rose over 25.96% on Monday, amounting to a one-week price increase of more than 21.86%. The company report on October 27, 2020 that SHAREHOLDER ALERT: WeissLaw LLP Investigates Mid-Con Energy Partners, L.P..

WeissLaw LLP is investigating possible breaches of the limited partnership agreement, breaches of fiduciary duty, and other violations of law by the board of directors of Mid-Con Energy Partners, L.P. (“MCEP” or the “Partnership”) (NASDAQ: MCEP) in connection with the Partnership’s proposed all stock merger with Contango Oil & Gas Company (“Contango”) (NYSE American: MCF). Under the terms of the merger agreement, MCEP unitholders will be entitled to receive 1.75 shares of Contango for each MCEP unit that they own, representing implied per-unit merger consideration of approximately $2.76 based upon Contango’s closing price on October 26, 2020.


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Over the last 12 months, MCEP stock dropped by -65.53%.

The market cap for the stock reached $38.17 million, with 14.31 million shares outstanding and 12.97 million shares in the current float. Compared to the average trading volume of 338.75K shares, MCEP stock reached a trading volume of 6890469 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Mid-Con Energy Partners LP [MCEP]:

Wells Fargo have made an estimate for Mid-Con Energy Partners LP shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on February 18, 2016. The new note on the price target was released on October 23, 2015, representing the official price target for Mid-Con Energy Partners LP stock. Previously, the target price had yet another drop from $6 to $4, while FBR Capital kept a Mkt Perform rating on MCEP stock. On September 22, 2015, analysts decreased their price target for MCEP shares from 4 to 3.

The Average True Range (ATR) for Mid-Con Energy Partners LP is set at 0.25, with the Price to Sales ratio for MCEP stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 0.17, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for MCEP in the course of the last twelve months was 4.15 with Quick ratio for the last quarter at 0.20.

MCEP Stock Performance Analysis:

Mid-Con Energy Partners LP [MCEP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.86. With this latest performance, MCEP shares gained by 0.38% in over the last four-week period, additionally sinking by -6.43% over the last 6 months – not to mention a drop of -65.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MCEP stock in for the last two-week period is set at 59.67, with the RSI for the last a single of trading hit 68.99, and the three-weeks RSI is set at 54.58 for Mid-Con Energy Partners LP [MCEP]. The present Moving Average for the last 50 days of trading for this stock 2.52, while it was recorded at 2.21 for the last single week of trading, and 3.21 for the last 200 days.

Insight into Mid-Con Energy Partners LP Fundamentals:

Mid-Con Energy Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

MCEP Stock EPS

With the latest financial reports released by the company, Mid-Con Energy Partners LP posted 1.4/share EPS, while the average EPS was predicted by analysts to be reported at -1.6/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 187.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MCEP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Mid-Con Energy Partners LP go to 1.55%.

Mid-Con Energy Partners LP [MCEP] Insider Position Details

There are presently around $0 million, or 5.40% of MCEP stock, in the hands of institutional investors. The top three institutional holders of MCEP stocks are: BARINGS LLC with ownership of 32,769, which is approximately 1900.549% of the company’s market cap and around 19.35% of the total institutional ownership; MORGAN STANLEY, holding 25,886 shares of the stock with an approximate value of $68000.0 in MCEP stocks shares; and BANK OF AMERICA CORP /DE/, currently with $13000.0 in MCEP stock with ownership of nearly 6730.667% of the company’s market capitalization.

6 institutional holders increased their position in Mid-Con Energy Partners LP [NASDAQ:MCEP] by around 63,094 shares. Additionally, 11 investors decreased positions by around 224,164 shares, while 2 investors held positions by with 218,084 shares. The mentioned changes placed institutional holdings at 69,174 shares, according to the latest SEC report filing. MCEP stock had 1 new institutional investments in for a total of 1 shares, while 8 institutional investors sold positions of 223,101 shares during the same period.

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