Zacks Investment Research upgraded shares of Memorial Production Partners LP (NASDAQ:MEMP) from a sell rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Memorial Production Partners LP focuses on the acquisition and exploitation of oil and gas properties in North America. The Company’s properties are located in South and East Texas and consist of mature, legacy onshore oil and natural gas reservoirs. Memorial Production Partners LP is based in Houston, Texas. “

Several other equities analysts also recently commented on MEMP. 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. downgraded Memorial Production Partners from a market perform rating to an underperform rating in a research report on Friday, October 21st. Stifel Nicolaus downgraded Memorial Production Partners from a hold rating to a sell rating in a research report on Monday, October 31st. FBR & Co downgraded Memorial Production Partners from an outperform rating to a market perform rating and decreased their target price for the stock from $3.50 to $1.00 in a research report on Monday, October 31st. Finally, Goldman Sachs Group Inc. reiterated a sell rating on shares of Memorial Production Partners in a research report on Tuesday, November 1st. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company. Memorial Production Partners has a consensus rating of Hold and a consensus target price of $2.46.

Shares of Memorial Production Partners (NASDAQ:MEMP) opened at 0.40 on Wednesday. The company’s market capitalization is $33.39 million. Memorial Production Partners has a 12 month low of $0.36 and a 12 month high of $3.90. The stock has a 50 day moving average price of $0.96 and a 200-day moving average price of $1.64.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris Inc. boosted 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 worth $6,149,000 after buying an additional 227,820 shares in the last quarter. Arrow Investment Advisors LLC boosted 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. Sheaff Brock Investment Advisors LLC boosted 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. Finally, Trust Asset Management LLC boosted 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.

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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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