Shares of Sanchez Production Partners LP (NYSEMKT:SPP) have received a consensus rating of “Buy” from the six research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.33.
Separately, Zacks Investment Research upgraded shares of Sanchez Production Partners from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, May 4th.
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Sanchez Production Partners (NYSEMKT:SPP) traded down 0.71% during trading on Tuesday, hitting $14.00. 39,906 shares of the stock were exchanged. The stock has a 50 day moving average price of $14.23 and a 200-day moving average price of $13.30. Sanchez Production Partners has a 12-month low of $9.76 and a 12-month high of $15.92.
In other news, CEO Gerald F. Willinger sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $13.92, for a total value of $62,640.00. Following the sale, the chief executive officer now directly owns 192,055 shares of the company’s stock, valued at approximately $2,673,405.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gerald F. Willinger sold 2,722 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $13.92, for a total transaction of $37,890.24. Following the completion of the sale, the chief executive officer now directly owns 192,055 shares in the company, valued at $2,673,405.60. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Sanchez Production Partners stock. Bank of Montreal Can bought a new stake in Sanchez Production Partners LP (NYSEMKT:SPP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,000 shares of the company’s stock, valued at approximately $308,000.
Sanchez Production Partners Company Profile
Sanchez Midstream Partners LP, formerly Sanchez Production Partners LP, is focused on the acquisition, development, ownership and operation of midstream and other energy producing assets. The Company operates through two segments: the exploration and production of oil and natural gas, and the midstream business, which includes the Catarina gathering system.
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