MEMP
MEMP
Here's another that's really being taken to the woodshed, down around 7% today. MEMP currently yields almost 20%. Even if the dividend were to be sliced in half which seems very unlikely given the hedges that the company has in place, it would still yield almost 10%. I think some of the weakness in the units may be due to Raymond James' prediction that they are going to lower the distribution. From where I sit, it looks like a strong buy if one is willing to wait for energy prices to improve.
Re: MEMP
Memorial Production Partners Reaches New 12-Month Low After Analyst Downgrade (MEMP)
Posted on July 22, 2015 by Matt Cooper in Investing, Price Articles
Memorial Production Partners logoMemorial Production Partners (NASDAQ:MEMP) reached a new 52-week low during mid-day trading on Wednesday after Raymond James lowered their price target on the stock from $20.00 to $16.00, Market Beat Ratings reports. Raymond James currently has an outperform rating on the stock. Memorial Production Partners traded as low as $11.22 and last traded at $11.31, with a volume of 1,251,998 shares changing hands. The stock had previously closed at $12.19.
A number of other analysts have also recently weighed in on MEMP. Analysts at Zacks upgraded shares of Memorial Production Partners from a “sell” rating to a “hold” rating in a research note on Monday. Analysts at Wunderlich initiated coverage on shares of Memorial Production Partners in a research note on Monday, June 15th. They set a “buy” rating and a $19.00 price target on the stock. Analysts at Morgan Stanley initiated coverage on shares of Memorial Production Partners in a research note on Monday, June 1st. They set an “overweight” rating and a $19.00 price target on the stock. Finally, analysts at MLV & Co. reiterated a “buy” rating and set a $20.00 price target on shares of Memorial Production Partners in a research note on Friday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Memorial Production Partners presently has a consensus rating of “Buy” and an average price target of $18.79.
In other Memorial Production Partners news, insider Mrd Holdco Llc sold 190,514 shares of Memorial Production Partners stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $15.00, for a total value of $2,857,710.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
The stock’s 50-day moving average is $14.72 and its 200-day moving average is $16.17. The company’s market cap is $938.48 million.
Memorial Production Partners (NASDAQ:MEMP) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.21. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $131.04 million. During the same quarter last year, the company posted ($0.56) earnings per share. Memorial Production Partners’s revenue was down 20.6% compared to the same quarter last year. On average, analysts predict that Memorial Production Partners will post $-0.3900 earnings per share for the current fiscal year.
Memorial Production Partners LP, is a limited partnership formed by Memorial Resource to own, acquire and exploit oil natural gas properties in North America. In March 2013, the Company announced that it has closed its acquisition of certain oil and natural gas producing properties in East Texas and North Louisiana from its sponsor, Memorial Resource Development LLC. In September 2013, Memorial Production Partners LP closed two separate transactions to acquire certain oil and natural gas properties from third parties in East Texas and in the Rockies. In October 2013, the Company acquired oil and natural gas properties in the Permian Basin, East Texas, and the Rockies. In March 2014, Memorial Production Partners LP acquired certain oil and gas producing properties in the Eagle Ford trend from Alta Mesa Holdings, LP. In April 2014, Memorial Production Partners LP acquired certain oil and natural gas producing properties in East Texas, from its sponsor, Memorial Resource Development.
Receive News & Ratings for Memorial Production Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Memorial Production Partners and related companies with MarketBeat.com's FREE daily email newsletter.
Posted on July 22, 2015 by Matt Cooper in Investing, Price Articles
Memorial Production Partners logoMemorial Production Partners (NASDAQ:MEMP) reached a new 52-week low during mid-day trading on Wednesday after Raymond James lowered their price target on the stock from $20.00 to $16.00, Market Beat Ratings reports. Raymond James currently has an outperform rating on the stock. Memorial Production Partners traded as low as $11.22 and last traded at $11.31, with a volume of 1,251,998 shares changing hands. The stock had previously closed at $12.19.
A number of other analysts have also recently weighed in on MEMP. Analysts at Zacks upgraded shares of Memorial Production Partners from a “sell” rating to a “hold” rating in a research note on Monday. Analysts at Wunderlich initiated coverage on shares of Memorial Production Partners in a research note on Monday, June 15th. They set a “buy” rating and a $19.00 price target on the stock. Analysts at Morgan Stanley initiated coverage on shares of Memorial Production Partners in a research note on Monday, June 1st. They set an “overweight” rating and a $19.00 price target on the stock. Finally, analysts at MLV & Co. reiterated a “buy” rating and set a $20.00 price target on shares of Memorial Production Partners in a research note on Friday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Memorial Production Partners presently has a consensus rating of “Buy” and an average price target of $18.79.
In other Memorial Production Partners news, insider Mrd Holdco Llc sold 190,514 shares of Memorial Production Partners stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $15.00, for a total value of $2,857,710.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
The stock’s 50-day moving average is $14.72 and its 200-day moving average is $16.17. The company’s market cap is $938.48 million.
Memorial Production Partners (NASDAQ:MEMP) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.21. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $131.04 million. During the same quarter last year, the company posted ($0.56) earnings per share. Memorial Production Partners’s revenue was down 20.6% compared to the same quarter last year. On average, analysts predict that Memorial Production Partners will post $-0.3900 earnings per share for the current fiscal year.
Memorial Production Partners LP, is a limited partnership formed by Memorial Resource to own, acquire and exploit oil natural gas properties in North America. In March 2013, the Company announced that it has closed its acquisition of certain oil and natural gas producing properties in East Texas and North Louisiana from its sponsor, Memorial Resource Development LLC. In September 2013, Memorial Production Partners LP closed two separate transactions to acquire certain oil and natural gas properties from third parties in East Texas and in the Rockies. In October 2013, the Company acquired oil and natural gas properties in the Permian Basin, East Texas, and the Rockies. In March 2014, Memorial Production Partners LP acquired certain oil and gas producing properties in the Eagle Ford trend from Alta Mesa Holdings, LP. In April 2014, Memorial Production Partners LP acquired certain oil and natural gas producing properties in East Texas, from its sponsor, Memorial Resource Development.
Receive News & Ratings for Memorial Production Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Memorial Production Partners and related companies with MarketBeat.com's FREE daily email newsletter.
Re: MEMP
Go to the EPG website and log on.
Click on the MLP tab
Go to the MEMP profile that we published June 18
Go to page 10 of the profile and take five minutes to study their hedges.
Keep in mind that MEMP's production mix is 55% natural gas, 25% crude oil and 20% NGLs.
Think about it for five minutes then report back here why you think MEMP is going to have a significant drop in cash flows from operations.
Click on the MLP tab
Go to the MEMP profile that we published June 18
Go to page 10 of the profile and take five minutes to study their hedges.
Keep in mind that MEMP's production mix is 55% natural gas, 25% crude oil and 20% NGLs.
Think about it for five minutes then report back here why you think MEMP is going to have a significant drop in cash flows from operations.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: MEMP
I think people are forgetting that these upstream MLP can also increase distributions when the macro environment improves. Investors that picked up high quality MLPs on the dip in 2008-2009 locked in some fantastic cash flows. Management knows that investors buy MLPs for yield. They know the only way to get their unit prices to increase is to increase distributions.
MEMP is a first class outfit. They have a VERY HIGH percentage of their production hedged at good prices. They may decide to reduce their distributions just to err on the side of caution.
At the bottom of each forecast model I put a table that shows the hedges for each company.
Another point is that people who invest for yield are much more risk adverse. I also believe they set tight stop loss orders and sometime one big seller can cause a cascade of selling.
For two months the price of natural gas has been drifting higher, but no one seems to notice. MEMP has a lot of gas production.
MEMP is a first class outfit. They have a VERY HIGH percentage of their production hedged at good prices. They may decide to reduce their distributions just to err on the side of caution.
At the bottom of each forecast model I put a table that shows the hedges for each company.
Another point is that people who invest for yield are much more risk adverse. I also believe they set tight stop loss orders and sometime one big seller can cause a cascade of selling.
For two months the price of natural gas has been drifting higher, but no one seems to notice. MEMP has a lot of gas production.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group