Revenue Update on Mid-Con Energy Partners LP(NASDAQ:MCEP)

Mid-Con Energy Partners LP(NASDAQ:MCEP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $4.69M. Analysts estimated a revenue of $20.87M. Earnings per share were $-0.38. Analysts had estimated an EPS of $0.13.

Mid-Con Energy Partners LP (MCEP) made into the market gainers list on Mondays trading session with the shares advancing 12.79% or 0.33 points. Due to strong positive momentum, the stock ended at $2.91, which is also near the day’s high of $3.08. The stock began the session at $2.88 and the volume stood at 11,27,807 shares. The 52-week high of the shares is $4.05 and the 52 week low is $0.72. The company has a current market capitalization of $87 M and it has 2,99,12,230 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Michael David Peterson (Chief Financial Officer) sold 26,250 shares at $2.02 per share price.Also, On Mar 7, 2016, Cameron O. Smith (director) purchased 5,000 shares at $1.11 per share price.On Dec 17, 2015, C Fred Jr Ball (director) purchased 15,000 shares at $1.15 per share price, according to the Form-4 filing with the securities and exchange commission.

Mid-Con Energy Partners LP engages in the acquisition exploitation and development of producing oil and natural gas properties in North America with a focus on Enhanced Oil Recovery (EOR). The Company’s properties are located in the Mid-Continent region of the United States in five core areas: Southern Oklahoma Northeastern Oklahoma parts of Oklahoma and Colorado within the Hugoton West Texas within the Eastern Shelf of the Permian and upper Texas Gulf Coast. The Company operates approximately 99% of its properties through its affiliate Mid-Con Energy Operating LLC. All of its non-operated wells are managed by third-party operators who are independent oil and natural gas companies. The Company designs and manages the development recompletion or work-over for all of the wells it operates and supervises operation and maintenance activities.

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