Insider Selling: Sanchez Production Partners LP (SNMP) CEO Sells $14,300.00 in Stock

Sanchez Production Partners LP (NASDAQ:SNMP) CEO Gerald F. Willinger sold 1,100 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $13.00, for a total transaction of $14,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Sanchez Production Partners LP (NASDAQ SNMP) traded down $0.35 during trading hours on Friday, reaching $12.60. 20,902 shares of the company were exchanged, compared to its average volume of 29,780. Sanchez Production Partners LP has a 1 year low of $9.35 and a 1 year high of $15.92.

Sanchez Production Partners (NASDAQ:SNMP) last posted its quarterly earnings results on Tuesday, August 15th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.21). The firm had revenue of $25.03 million for the quarter, compared to the consensus estimate of $21.90 million.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a dividend of $0.4508 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.31%. This is an increase from Sanchez Production Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, November 17th.

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Separately, Zacks Investment Research upgraded shares of Sanchez Production Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th.

About Sanchez Production Partners

Sanchez Midstream Partners LP, formerly Sanchez Production Partners LP, is focused on the acquisition, development, ownership and operation of midstream and other energy producing assets. The Company operates through two segments: the exploration and production of oil and natural gas, and the midstream business, which includes the Catarina gathering system.

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