Todays Report: Today: Memorial Production Partners LP (MEMP) Upgrade at The Zacks Investment Research

Today: Memorial Production Partners LP (MEMP) Upgrade at The Zacks Investment Research

Zacks Investment Research upgraded shares of Memorial Production Partners LP (NASDAQ:MEMP) from a sell rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Memorial Production Partners LP focuses on the acquisition and exploitation of oil and gas properties in North America. The Company’s properties are located in South and East Texas and consist of mature, legacy onshore oil and natural gas reservoirs. Memorial Production Partners LP is based in Houston, Texas. “

MEMP has been the subject of several other research reports. Citigroup Inc. restated a hold rating and issued a $1.80 price objective on shares of Memorial Production Partners in a report on Thursday, September 29th. Stifel Nicolaus cut Memorial Production Partners from a hold rating to a sell rating in a report on Monday, October 31st. FBR & Co cut Memorial Production Partners from an outperform rating to a market perform rating and decreased their price objective for the company from $3.50 to $1.00 in a report on Monday, October 31st. Raymond James Financial Inc. cut Memorial Production Partners from a market perform rating to an underperform rating in a report on Friday, October 21st. Finally, Goldman Sachs Group Inc. restated a sell rating on shares of Memorial Production Partners in a report on Tuesday, November 1st. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Memorial Production Partners presently has a consensus rating of Hold and an average price target of $2.46.

Shares of Memorial Production Partners (NASDAQ:MEMP) opened at 0.3961 on Wednesday. Memorial Production Partners has a 1-year low of $0.36 and a 1-year high of $3.90. The stock has a 50 day moving average price of $0.00 and a 200 day moving average price of $0.00.

A number of large investors have recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC increased its stake in shares of Memorial Production Partners by 1.4% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 63,381 shares of the company’s stock valued at $120,000 after buying an additional 887 shares during the period. Arrow Investment Advisors LLC increased its stake in shares of Memorial Production Partners by 42.7% in the second quarter. Arrow Investment Advisors LLC now owns 314,806 shares of the company’s stock valued at $598,000 after buying an additional 94,149 shares during the period. Trust Asset Management LLC increased its stake in shares of Memorial Production Partners by 55.5% in the second quarter. Trust Asset Management LLC now owns 1,678,620 shares of the company’s stock valued at $3,189,000 after buying an additional 598,960 shares during the period. Finally, Sanders Morris Harris Inc. increased its stake in shares of Memorial Production Partners by 7.6% in the second quarter. Sanders Morris Harris Inc. now owns 3,235,853 shares of the company’s stock valued at $6,149,000 after buying an additional 227,820 shares during the period.

Memorial Production Partners Company Profile

Memorial Production Partners LP (the Partnership) owns, acquires and exploits oil and natural gas properties in North America. The Partnership is owned by its limited partners and general partner. Its general partner is responsible for managing all of the Partnership’s operations and activities. The Partnership operates in the acquisition, exploitation, development and production of oil and natural gas properties segment.

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