Analyst Rating Update on Memorial Production Partners LP (MEMP)

Memorial Production Partners LP (MEMP) : The consensus on Memorial Production Partners LP (MEMP) based on 7 analyst recommendation on the company stock is 3.14, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Memorial Production Partners LP (MEMP).

Memorial Production Partners LP (MEMP) stock is expected to deviate a maximum of $1.26 from the average target price of $2.33 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $4 and the most muted being $1.

Company shares have received an average consensus rating of Hold for the current week


Memorial Production Partners LP (NASDAQ:MEMP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.45 and $1.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.72, notching a gain of 23.74% for the day. The total traded volume was 1,199,932 . The stock had closed at $1.39 on the previous day.

Memorial Production Partners LP (the Partnership) focuses on owning, acquiring and exploiting oil and natural gas properties in North America. The Partnership is owned 99.9% by its limited partners and 0.1% by its general partner, which is a wholly owned subsidiary of Memorial Resource. Its general partner is responsible for managing all of the Partnerships operations and activities. The Partnership operates in one reportable segment whose business activities are conducted through OLLC, its wholly owned subsidiary, and its wholly owned subsidiaries. Its assets consist primarily of producing oil and natural gas properties and are located in Texas, Louisiana, Colorado, Wyoming, New Mexico and offshore Southern California. Most of its oil and natural gas properties are located in oil and natural gas reservoirs with geologic characteristics and production profiles and capital requirements.

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