November 8, 2016 - 2:58 PM EST
Print Email Article Font Down Font Up
Basic Materials Sector Feels Loss of 7.85% for Memorial Production Partners LP (MEMP) in Early Trading on November 8

Memorial Production Partners LP (MEMP) started the trading day on a down note, making it one of the worst performing stocks in the basic materials sector of NYSE and NASDAQ listed companies shortly after the opening bell on November 8. Shares of MEMP have fallen 7.85% about 30 minutes into the session to $0.43 after closing the day prior at $0.47. It’s early, but the stock has traded as high as $0.44 and as low as $0.4 so far. Today's quick decline has come with about 120,256 shares changing hands, compared to an average 30-day volume of 1.42 million for Memorial Production Partners LP. The price is currently below the 30-day volume weighted average price of $0.41 for MEMP. The share depreciation gives the company a market capitalization of $39.24 million based upon 83.48 million shares outstanding. It also means that MEMP has a price-to-book ratio of 0.09:1. In the past 52 weeks, shares of MEMP have traded as low as $0.36 and as high as $5.05. Technical traders will take note that at $0.43, shares of MEMP are trading below their 200-day MA at $1.91 and below their 50-day MA at $1.5. 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 below them is typically regarded as bearish. Who is MEMP? Memorial Production Partners LP through its subsidiary is engaged in the acquisition, exploitation, development and production of oil and natural gas properties. The company’s employees are led by CEO William J. Scarff from the corporate headquarters at 500 Dallas Street in Houston, TX. For more information on MEMP and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit today. All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. is not responsible for inaccuracies in third-party supplied information. About is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at

Source: Financial Press News (November 8, 2016 - 2:58 PM EST)

News by QuoteMedia

Legal Notice