Memorial Production Partners LP (MEMP) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $-0.46 earnings per share for the quarter, missing the analyst consensus estimate by $-0.43. Analysts had a consensus of $-0.03. The company posted revenue of $60.90 million in the period, compared to analysts expectations of $142.34 million. The company’s revenue was down -34.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.90 EPS.
Many Wall Street Analysts have commented on Memorial Production Partners LP. Memorial Production Partners LP was Downgraded by Citigroup to ” Neutral” on Mar 21, 2016. Memorial Production Partners LP was Downgraded by BofA/Merrill to ” Underperform” on Feb 23, 2016. Memorial Production Partners LP was Downgraded by Wells Fargo to ” Underperform” on Feb 18, 2016.
Memorial Production Partners LP closed down -0.18 points or -6.21% at $2.72 with 11,69,773 shares getting traded on Monday. Post opening the session at $2.86, the shares hit an intraday low of $2.62 and an intraday high of $2.8699 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, 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.