Memorial Production Partners LP (NASDAQ:MEMP) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $3.56.

Several equities research analysts recently commented on MEMP shares. Citigroup Inc. restated a “hold” rating and issued a $1.80 price target on shares of Memorial Production Partners in a research report on Thursday, September 29th. Zacks Investment Research downgraded shares of Memorial Production Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday.

Memorial Production Partners (NASDAQ:MEMP) opened at 1.56 on Wednesday. The firm has a 50-day moving average of $1.76 and a 200-day moving average of $1.97. Memorial Production Partners has a one year low of $1.34 and a one year high of $6.65. The firm’s market cap is $130.24 million.

Memorial Production Partners (NASDAQ:MEMP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $1.77. The company had revenue of $68.06 million for the quarter, compared to analyst estimates of $121.62 million. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.36) EPS. Analysts anticipate that Memorial Production Partners will post ($2.45) EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEMP. State Street Corp raised its position in Memorial Production Partners by 3.9% in the first quarter. State Street Corp now owns 61,081 shares of the company’s stock valued at $130,000 after buying an additional 2,286 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Memorial Production Partners by 1.4% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 63,381 shares of the company’s stock valued at $120,000 after buying an additional 887 shares in the last quarter. Arrow Investment Advisors LLC raised its position in Memorial Production Partners by 42.7% in the second quarter. Arrow Investment Advisors LLC now owns 314,806 shares of the company’s stock valued at $598,000 after buying an additional 94,149 shares in the last quarter. Trust Asset Management LLC raised its position in Memorial Production Partners by 55.5% in the second quarter. Trust Asset Management LLC now owns 1,678,620 shares of the company’s stock valued at $3,189,000 after buying an additional 598,960 shares in the last quarter. Finally, Sanders Morris Harris Inc. raised its position in Memorial Production Partners by 7.6% in the second quarter. Sanders Morris Harris Inc. now owns 3,235,853 shares of the company’s stock valued at $6,149,000 after buying an additional 227,820 shares in the last quarter.

Memorial Production Partners Company Profile

Memorial Production Partners LP (the Partnership) owns, acquires and exploits oil and natural gas properties in North America. The Partnership is owned by its limited partners and general partner. Its general partner is responsible for managing all of the Partnership’s operations and activities. The Partnership operates in the acquisition, exploitation, development and production of oil and natural gas properties segment.

5 Day Chart for NASDAQ:MEMP

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