ValuEngine Lowers Mid-Con Energy Partners (MCEP) to Strong Sell

Mid-Con Energy Partners (NASDAQ:MCEP) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday, ValuEngine reports.

Shares of MCEP stock opened at $0.79 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.54. Mid-Con Energy Partners has a 1-year low of $0.60 and a 1-year high of $2.52.

Mid-Con Energy Partners (NASDAQ:MCEP) last announced its earnings results on Tuesday, March 12th. The oil and gas producer reported $0.43 earnings per share for the quarter. The company had revenue of $41.66 million during the quarter. Mid-Con Energy Partners had a negative net margin of 25.08% and a positive return on equity of 20.32%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wedbush Securities Inc. lifted its position in shares of Mid-Con Energy Partners by 7.0% during the first quarter. Wedbush Securities Inc. now owns 319,458 shares of the oil and gas producer’s stock worth $254,000 after purchasing an additional 21,000 shares in the last quarter. Capital Advisors Inc. OK lifted its position in shares of Mid-Con Energy Partners by 65.5% during the fourth quarter. Capital Advisors Inc. OK now owns 88,134 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 34,865 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC acquired a new stake in shares of Mid-Con Energy Partners during the fourth quarter worth about $40,000. 12.03% of the stock is currently owned by institutional investors and hedge funds.

About Mid-Con Energy Partners

Mid-Con Energy Partners, LP engages in the ownership, acquisition, and development of producing oil and natural gas properties in North America. The company's properties are primarily located in the Mid-Continent and Permian Basin regions of the United States in Oklahoma and Texas. As of December 31, 2017, its total estimated proved reserves of approximately 19.6 million barrel of oil equivalent.

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