Midday Update: Mid-Con Energy Partners LP (MCEP) Charges Ahead 5.88% on August 3

Mid-Con Energy Partners LP (MCEP) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on August 3. At the lunch break, shares of MCEP have gained 5.88% to $1.8 after closing the day prior at $1.7. In the first two and a half hours of trading, the stock has gone as high as $1.82 and as low as $1.7. Today's rise has come with about 66,473 shares changing hands, compared to an average 30-day volume of 157,931 for Mid-Con Energy Partners LP. The price is currently below the 30-day volume weighted average price of $1.75 for MCEP.

The share appreciation gives the company a market capitalization of $50.64 million based upon 29.79 million shares outstanding. It also means that MCEP has a price-to-book ratio of 0.35:1.

In the past 52 weeks, shares of MCEP have traded as low as $0.72 and as high as $4.05. Technical traders will take note that at $1.8, shares of MCEP are trading below their 200-day MA at $1.96 and below their 50-day MA at $2.06. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is MCEP?

Mid-Con Energy Partners LP owns, operates, acquires, exploits and develops oil and natural gas producing properties in North America. The Company's properties are located in the Mid-Continent region of the United States. The company’s 90 employees are led by CEO Jeffrey R. Olmstead from the corporate headquarters at 2501 North Harwood Street in Dallas, TX.

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