Memorial Production Partners LP (MEMP) has risen sharply, recording gains of 19.74% in the past 4 weeks. However, the stock has corrected -12.5% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 19.99% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 0.62% and the fifty day Moving Average is 2.17%. Memorial Production Partners LP has dropped 11.84% during the last three month period . Year-to-Date the stock performance stands at -25.98%.
Memorial Production Partners LP (MEMP) : 4 Wall Street analysts covering Memorial Production Partners LP (MEMP) believe that the average level the stock could reach for the short term is $2.15. The maximum price target given is $4 and the minimum target for short term is around $1, hence the standard deviation is calculated at $1.09.
Memorial Production Partners LP (NASDAQ:MEMP): The stock was completely flat for the day, closing at $1.82 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $1.83, the stock touched an intraday high of $1.90 and a low of $1.81. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $1.82. The total trading volume on Friday was 180,032.
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.