Memorial Production raises distribution by 5c to 50.75c per unit Subject to the closing of the transaction in Southern California, the board of MEMP's general partner approved an increase in the distribution rate to 50.75c per unit for Q4. This distribution rate will represent an annualized amount of $2.03 per unit and a 6.8% increase over the annualized minimum quarterly distribution of $1.90 per unit, as well as a 2.5% increase over the Q3 annualized distribution of $1.98 per unit.
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Memorial Production upgraded to Buy from Neutral at Ladenburg Ladenburg upgraded Memorial Production to Buy saying the company is well-positioned to increase its distribution through acquisitions and low-risk development. The firm raised its price target for shares to $26 from $19.