Brokerage firm UBS Maintains its rating on Memorial Production Partners LP(NASDAQ:MEMP). In a research note issued to the investors, the brokerage major Raises the price-target to $1.60 per share. The shares have been rated Sell. The rating by UBS was issued on Aug 5, 2016.
Memorial Production Partners LP (MEMP) made into the market gainers list on Wednesdays trading session with the shares advancing 1.09% or 0.02 points. Due to strong positive momentum, the stock ended at $1.86, which is also near the day’s high of $1.87. The stock began the session at $1.85 and the volume stood at 4,05,092 shares. The 52-week high of the shares is $7.69 and the 52 week low is $1.34. The company has a current market capitalization of $155 M and it has 8,34,84,115 shares in outstanding.
Memorial Production Partners LP(MEMP) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $68.07M. Analysts had an estimated revenue of $121.95M. Earnings per share were $-2.28. Analysts had estimated an EPS of $-0.01.
Several Insider Transactions has been reported to the SEC. On Mar 11, 2015, Gregory M Robbins (SVP, Corporate Development) sold 16,000 shares at $18.00 per share price.
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 Partnership’s 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.