July 26, 2016 - 4:40 PM EDT
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Memorial Production Partners LP (MEMP) Dives 1.96% in Morning Session on July 26

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Memorial Production Partners LP (MEMP) lost ground during morning trading on July 26 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of MEMP have fallen 1.96% to $1.5 after closing the day prior at $1.53. So far, the stock has traded as high as $1.55 and as low as $1.49. Today’s decline has come with about 192,225 shares changing hands, compared to an average 30-day volume of 422,786 for Memorial Production Partners LP. The price is currently below the 30-day volume weighted average price of $1.51 for MEMP.

The share depreciation gives the company a market capitalization of $126.84 million based upon 82.9 million shares outstanding. It also means that MEMP has a price-to-book ratio of 0.21:1.

In the past 52 weeks, shares of MEMP have traded as low as $1.5 and as high as $11.99. Technical traders will take note that at $1.5, shares of MEMP are trading below their 200-day MA at $2.64 and below their 50-day MA at $1.97. 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 John A. Weinzierl from the corporate headquarters at 500 Dallas Street in Houston, TX.


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Source: Financial Press News (July 26, 2016 - 4:40 PM EDT)

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