Memorial Production Partners LP (MEMP) Shares are Up 11.25%

Memorial Production Partners LP (MEMP) has been under a strong bear grip, hence the stock is down -6.3% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 11.07% in the past 1 week. The stock has risen by 11.25% in the past week indicating that the buyers are active at lower levels, but the stock is down -6.81% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 3.34% and the 50-Day Moving Average is 1.77%.The 200 Day SMA reached 11.71%

Memorial

Memorial Production Partners LP (NASDAQ:MEMP): After opening at $1.61, the stock dipped to an intraday low of $1.53 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $1.79 and the buying power remained strong till the end. The stock closed at $1.78 for the day, a gain of 10.56% for the day session. The total traded volume was 579,353. The stocks close on the previous trading day was $1.78.

Memorial Production Partners LP (MEMP) : Average target price received by Memorial Production Partners LP (MEMP) is $2.15 with an expected standard deviation of $1.09. The most aggressive target on the stock is $4, whereas the most downbeat target is $1. 4 financial analysts are currently covering the stock.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.