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Trade-Ideas LLC identified
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Mid-Con Energy Partners as such a stock due to the following factors:
- MCEP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $3.5 million.
- MCEP has traded 65,034 shares today.
- MCEP is trading at 2.59 times the normal volume for the stock at this time of day.
- MCEP is trading at a new high 7.14% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
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More details on MCEP:
Mid-Con Energy Partners, LP is engaged in the acquisition, exploitation, development, and production of oil and natural gas properties in North America. The stock currently has a dividend yield of 9.2%. MCEP has a PE ratio of 3.6. Currently there is 1 analyst that rates Mid-Con Energy Partners a buy, 1 analyst rates it a sell, and 6 rate it a hold.
The average volume for Mid-Con Energy Partners has been 498,400 shares per day over the past 30 days. Mid-Con Energy has a market cap of $126.5 million and is part of the basic materials sector and energy industry. The stock has a beta of 1.43 and a short float of 1.9% with 0.48 days to cover. Shares are down 14.1% year-to-date as of the close of trading on Monday.
rates Mid-Con Energy Partners as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and disappointing return on equity.
Highlights from the ratings report include:
- MCEP's very impressive revenue growth greatly exceeded the industry average of 11.8%. Since the same quarter one year prior, revenues leaped by 119.0%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The debt-to-equity ratio of 1.12 is relatively high when compared with the industry average, suggesting a need for better debt level management. Even though the debt-to-equity ratio is weak, MCEP's quick ratio is somewhat strong at 1.08, demonstrating the ability to handle short-term liquidity needs.
- Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market on the basis of return on equity, MID-CON ENERGY PARTNERS -LP has underperformed in comparison with the industry average, but has exceeded that of the S&P 500.
- You can view the full Mid-Con Energy Partners Ratings Report.