Memorial Production Partners LP (MEMP) : Traders are bullish on Memorial Production Partners LP (MEMP) as it has outperformed the S&P 500 by a wide margin of 7.12% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 32.33%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 32.9% in the last 1 week, and is up 9.78% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Memorial Production Partners LP (NASDAQ:MEMP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.87 and $1.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.02, notching a gain of 7.45% for the day. The total traded volume was 1,210,462 . The stock had closed at $1.88 on the previous day.
The stock has recorded a 20-day Moving Average of 24.07% and the 50-Day Moving Average is 11.94%. Memorial Production Partners LP has dropped 16.41% during the last 3-month period . Year-to-Date the stock performance stands at -17.85%.
Memorial Production Partners LP (MEMP) : The highest short term price target forecast on Memorial Production Partners LP (MEMP) is $4 and the lowest target price is $1. A total of 3 equity analysts are currently covering the company. The average price of all the analysts is $2.33 with a standard deviation of $1.26.
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.