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A few Wall Street research firms recently weighed in on Mid-Con Energy Partners, LP (MCEP). They have a much less favorable assessment of the stock, with a mean rating of 3.7. The stock is rated as buy by 0 analysts, with 0 outperform and 3 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 3 analysts offering adjusted EPS forecast have a consensus estimate of $0.1 a share, which would compare with $-0.14 in the same quarter last year. They have a high estimate of $0.16 and a low estimate of $0.07. Revenue for the period is expected to total nearly $23.44M from $22.05M the year-ago period.
For the full year, 3 Wall Street analysts forecast this company would deliver earnings of $0.36 per share, with a high estimate of $0.51 and a low estimate of $0.18. It had reported earnings per share of $0.36 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $87.33M versus 94.78M in the preceding year.
The analysts project the company to maintain annual growth of around 1.55 percent over the next five years as compared to an average growth rate of 5.51 percent expected for its competitors in the same industry.
Among the 5 analysts Thomson/First Call tracks, the 12-month average price target for MCEP is $1.48 but some analysts are projecting the price to go as high as $3. If the optimistic analysts are correct, that represents a 41 percent upside potential from the recent closing price of $2.13. Some sell-side analysts, particularly the bearish ones, have called for $0.65 price targets on shares of Mid-Con Energy Partners, LP.
In the last reported results, the company reported earnings of $-1.93 per share, while analysts were calling for share earnings of $0.22. It was an earnings surprise of -977.3 percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Mid-Con Energy Partners, LP acquires, explores, develops, and produces oil and natural gas properties in North America. The companys properties are located in the Southern Oklahoma, Northeastern Oklahoma, parts of Oklahoma, Colorado and Texas within the Hugoton, and Texas Gulf Coast and Texas within the Eastern Shelf of the Permian in the Mid-Continent and Permian Basin regions of the United States. It owns 92% working interest in 512 net producing wells, 246 net injection, water supply or disposal wells, and 463 net wells shut-in or waiting on completion. As of December 31, 2015, the companys total estimated proved reserves were approximately 22.3 million barrel of oil equivalent. Mid-Con Energy GP, LLC serves as the general partner of Mid-Con Energy Partners, LP. The company was founded in 2011 and is headquartered in Dallas, Texas.
Source: CWRU Observer
Broad Street Alerts has not been compensated for the mention of _MCEP__ and we do not hold any positions.