#2 - Mid-Con Energy Partners LP (NASDAQ:MCEP)
Mid-Con Energy Partners LP (NASDAQ: MCEP) - Mid-Con Energy Partners illustrates the risks for small-cap companies in the oil and gas sector. In 2013, this company’s stock was up to $27 per share. But when oil prices cratered from 2014-2016, Mid-Con’s stock cratered with it, moving into penny stock territory. At one point it was selling for as low as $0.73 per share. Even with oil prices rising, the stock has struggled to find a lift, trading around $1.75 per share.
However, the stock has achieved a gain of over 42% for the year while revenues are forecast to hold steady below $60 million through 2019. What isn’t clear is if those estimates are accounting for higher oil prices. When oil was trading at $120 per barrel, Mid-Con’s stock price held steady in the 20’s, so if crude makes a leap from its current price at around $70, Mid-Con could be a good long play in the penny stock arena.
About Mid-Con Energy Partners
Mid-Con Energy Partners, LP acquires, owns, develops, and produces oil and natural gas properties in North America. The company's properties are primarily located in the Mid-Continent, Big Horn, and Powder River Basin regions of the United States in Oklahoma and Wyoming areas. As of December 31, 2019, its total estimated proved reserves were 25.6 million barrel of oil equivalent (MMBoe).
Read More - Current Price
- $5.52
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
