Brokerages Set Midstates Petroleum Company Inc (NYSE:MPO) Target Price at $9.93

Shares of Midstates Petroleum Company Inc (NYSE:MPO) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, AnalystRatings.Net reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $9.93.

Midstates Petroleum Company (NYSE:MPO) traded down 3.4802% during midday trading on Monday, hitting $1.9497. The stock had a trading volume of 57,741 shares. The stock’s market cap is $20.54 million. Midstates Petroleum Company has a 12-month low of $1.75 and a 12-month high of $16.40. The company’s 50-day moving average price is $2.78 and its 200 day moving average price is $4.90.

Midstates Petroleum Company (NYSE:MPO) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.95) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.95) by $3.00. The business earned $110.36 million during the quarter, compared to analyst estimates of $111.46 million. The business’s quarterly revenue was down 50.9% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, equities research analysts predict that Midstates Petroleum Company will post ($168.60) earnings per share for the current fiscal year.

In other news, major shareholder Iv Eagle Holdings L.P. R/C sold 11,376 shares of the company’s stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $3.43, for a total value of $39,019.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

MPO has been the subject of several recent analyst reports. Zacks Investment Research cut Midstates Petroleum Company from a “hold” rating to a “sell” rating in a research report on Friday, September 11th. Goldman Sachs initiated coverage on Midstates Petroleum Company in a research report on Thursday, November 26th. They issued a “neutral” rating for the company. Morgan Stanley initiated coverage on Midstates Petroleum Company in a research report on Thursday, November 26th. They issued an “outperform” rating and a $20.00 target price for the company. RBC Capital initiated coverage on Midstates Petroleum Company in a research report on Thursday, November 26th. They issued an “outperform” rating for the company. Finally, Societe Generale initiated coverage on Midstates Petroleum Company in a research report on Thursday, November 26th. They issued a “buy” rating and a $19.00 target price for the company.

12 Month Chart for NYSE:MPO

Midstates Petroleum Company, Inc. is an independent exploration and production company. The Company is engaged in the exploration, development and production of oil, natural gas liquids and natural gas. Its operations are primarily focused on exploration and production activities in the Mississippian Lime, Anadarko Basin and Gulf Coast. The Company has oil and gas operations and properties in Oklahoma, Texas and Louisiana. At December 31, 2014, the Company’s Mississippian Lime assets consisted of approximately 66,300 net acres in the Mississippian Lime trend, with 64,100 net acres in Woods and Alfalfa Counties of Oklahoma. At December 31, 2014, its Anadarko Basin assets consisted of approximately 122,600 net acres in the Anadarko Basin, with 90,300 net acres in Texas and 32,300 net acres in western Oklahoma. At December 31, 2014, the Company had acreage in the Fleetwood area, approximately 50,600 net acres in the trend under lease and/or lease option.

 

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