Mid-Con Energy Partners (NASDAQ:MCEP) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Monday, February 4th.
MCEP stock opened at $0.97 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.62. Mid-Con Energy Partners has a 1-year low of $0.60 and a 1-year high of $2.52.
In related news, major shareholder John C. Goff bought 380,000 shares of the stock in a transaction that occurred on Monday, December 31st. The shares were acquired at an average price of $0.78 per share, with a total value of $296,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder John C. Goff bought 178,000 shares of the stock in a transaction that occurred on Monday, December 24th. The stock was bought at an average cost of $0.67 per share, for a total transaction of $119,260.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,196,000 shares of company stock worth $890,080. Corporate insiders own 7.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Inc. OK increased its position in Mid-Con Energy Partners by 65.5% during the fourth quarter. Capital Advisors Inc. OK now owns 88,134 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 34,865 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of Mid-Con Energy Partners in the fourth quarter valued at approximately $247,000. Finally, RR Advisors LLC grew its position in shares of Mid-Con Energy Partners by 5.2% in the third quarter. RR Advisors LLC now owns 2,901,000 shares of the oil and gas producer’s stock valued at $4,381,000 after purchasing an additional 143,000 shares during the last quarter. 12.16% of the stock is currently owned by hedge funds and other institutional investors.
Mid-Con Energy Partners Company Profile
Mid-Con Energy Partners, LP engages in the ownership, acquisition, and development of producing oil and natural gas properties in North America. The company's properties are primarily located in the Mid-Continent and Permian Basin regions of the United States in Oklahoma and Texas. As of December 31, 2017, its total estimated proved reserves of approximately 19.6 million barrel of oil equivalent.
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