Memorial Production Partners LP (NASDAQ:MEMP) has earned a consensus rating of “Sell” from the eleven brokerages that are covering the company. Six analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $2.58.

MEMP has been the subject of several research analyst reports. Zacks Investment Research cut shares of Memorial Production Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Citigroup Inc. restated a “hold” rating and issued a $1.80 price objective on shares of Memorial Production Partners in a research report on Thursday, September 29th. Raymond James Financial Inc. cut shares of Memorial Production Partners from a “market perform” rating to an “underperform” rating in a research report on Friday, October 21st. Stifel Nicolaus cut shares of Memorial Production Partners from a “hold” rating to a “sell” rating in a research report on Monday, October 31st. Finally, FBR & Co cut shares of Memorial Production Partners from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $3.50 to $1.00 in a research report on Monday, October 31st.

Several institutional investors have recently made changes to their positions in MEMP. Sheaff Brock Investment Advisors LLC raised its position in shares of 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 period. Arrow Investment Advisors LLC raised its position in shares of 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 period. Trust Asset Management LLC raised its position in shares of 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 period. Finally, Sanders Morris Harris Inc. raised its position in shares of 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 period.

Shares of Memorial Production Partners (NASDAQ:MEMP) opened at 0.4259 on Wednesday. Memorial Production Partners has a 12-month low of $0.36 and a 12-month high of $4.95. The stock has a 50 day moving average price of $0.00 and a 200-day moving average price of $0.00.

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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