Wednesday, July 10, 2013

Mid-Con Energy Partners Price Target Cut to $23.00 by Analysts at Robert W. Baird (MCEP)

July 8th, 2013 ? 0 comments ? Filed Under ? by ABMN Staff

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Robert W. Baird reduced their price objective on shares of Mid-Con Energy Partners (NASDAQ: MCEP) from $27.00 to $23.00 in a research note issued on Monday, Analyst Ratings Network.com reports. The firm currently has a ?neutral? rating on the stock. Robert W. Baird?s price objective points to a potential upside of 5.17% from the stock?s previous close.

Mid-Con Energy Partners (NASDAQ: MCEP) traded down 1.00% on Monday, hitting $21.87. Mid-Con Energy Partners has a 52-week low of $17.40 and a 52-week high of $26.50. The stock?s 50-day moving average is currently $23.26. The company has a market cap of $420.6 million and a price-to-earnings ratio of 12.85.

Mid-Con Energy Partners (NASDAQ: MCEP) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.44 by $0.23. The company had revenue of $19.05 million for the quarter, compared to the consensus estimate of $19.97 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company?s quarterly revenue was up 79.7% on a year-over-year basis. On average, analysts predict that Mid-Con Energy Partners will post $2.03 earnings per share for the current fiscal year.

Separately, analysts at C.K. Cooper initiated coverage on shares of Mid-Con Energy Partners in a research note to investors on Wednesday, June 12th. They set a ?buy? rating on the stock.

Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Mid-Con Energy Partners has an average rating of ?Buy? and a consensus target price of $24.50.

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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Source: http://www.americanbankingnews.com/2013/07/08/mid-con-energy-partners-price-target-cut-to-23-00-by-analysts-at-robert-w-baird-mcep/

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