Memorial Production Partners LP (NASDAQ:MEMP) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 1,346,718 shares, a decline of 24.2% from the September 15th total of 1,775,717 shares. Based on an average daily volume of 415,420 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.6% of the shares of the stock are sold short.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Memorial Production Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Citigroup Inc. reissued a “hold” rating and set a $1.80 price objective on shares of Memorial Production Partners in a research note on Thursday, September 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Memorial Production Partners currently has an average rating of “Hold” and a consensus price target of $3.83.

Institutional investors have recently added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC increased 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 during the last quarter. State Street Corp increased 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 during the last quarter. Arrow Investment Advisors LLC increased 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 during the last quarter. Sanders Morris Harris Inc. increased 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 during the last quarter. Finally, Trust Asset Management LLC increased 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 during the last quarter.

Memorial Production Partners (NASDAQ:MEMP) opened at 1.54 on Friday. The stock has a 50 day moving average price of $1.71 and a 200 day moving average price of $1.95. The firm’s market cap is $128.57 million. Memorial Production Partners has a 52 week low of $1.34 and a 52 week high of $6.62.

Memorial Production Partners (NASDAQ:MEMP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($0.01) by $1.77. The firm earned $68.06 million during the quarter, compared to analyst estimates of $121.62 million. Memorial Production Partners’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.36) earnings per share. Equities research analysts expect that Memorial Production Partners will post ($2.45) EPS for the current year.

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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