Midstates Petroleum Company Inc (NYSE:MPO) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 306,980 shares, a drop of 84.3% from the February 15th total of 1,955,991 shares. Based on an average daily trading volume, of 221,864 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.2% of the shares of the company are sold short.
Shares of NYSE MPO opened at $10.18 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Midstates Petroleum has a 52 week low of $6.22 and a 52 week high of $15.05. The firm has a market capitalization of $218.61 million, a P/E ratio of 8.42 and a beta of 1.58.
Midstates Petroleum (NYSE:MPO) last issued its quarterly earnings results on Wednesday, March 13th. The energy producer reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.77. Midstates Petroleum had a positive return on equity of 4.89% and a negative net margin of 55.81%. The company had revenue of $69.64 million for the quarter.
Separately, ValuEngine cut Midstates Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th.
In other news, major shareholder Fir Tree Capital Management Lp sold 1,706,949 shares of Midstates Petroleum stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $10.00, for a total transaction of $17,069,490.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MPO. Bank of Montreal Can increased its position in shares of Midstates Petroleum by 180.9% in the fourth quarter. Bank of Montreal Can now owns 3,553 shares of the energy producer’s stock worth $27,000 after purchasing an additional 2,288 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Midstates Petroleum in the fourth quarter worth $73,000. Smith Asset Management Group LP bought a new position in shares of Midstates Petroleum in the fourth quarter worth $128,000. Rhumbline Advisers increased its position in shares of Midstates Petroleum by 42.6% in the fourth quarter. Rhumbline Advisers now owns 21,933 shares of the energy producer’s stock worth $165,000 after purchasing an additional 6,553 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Midstates Petroleum in the fourth quarter worth $169,000. Institutional investors own 94.34% of the company’s stock.
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About Midstates Petroleum
Midstates Petroleum Company, Inc engages in the exploration, development, and production of oil, natural gas liquids, and natural gas in the United States. The company's operations are primarily focused on exploration and production activities in the Mississippian Lime and Anadarko Basin. As of December 31, 2017, its Mississippian Lime assets consisted of approximately 117,451 net acres in the Mississippian Lime trend in Woods and Alfalfa counties of Oklahoma; and Anadarko Basin assets consisted of approximately 76,409 net acres in Texas and 16,198 net acres in Western Oklahoma.
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