Memorial Production Partners LP (MEMP) : 7 analysts are covering Memorial Production Partners LP (MEMP) and their average rating on the stock is 3.14, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
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.
Memorial Production Partners LP (NASDAQ:MEMP): The stock was completely flat for the day, closing at $1.81 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $1.80, the stock touched an intraday high of $1.90 and a low of $1.79. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $1.81. The total trading volume on Wednesday was 163,141.
The company shares have dropped -87.75% from its 1 Year high price. On Jul 10, 2015, the shares registered one year high at $15.09 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $2.04 and the 200 Day Moving Average price is recorded at $2.23.
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.