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Stock Market & Financial Investment News

News Breaks
December 6, 2012
18:28 EDTMEMPMemorial Productions Partners 10.5M share Secondary priced at $17.00
Raymond James, BofA/Merrill, Barclays, Citigroup, RBC Capital and Wells Fargo acted as joint book running managers for the offering.
News For MEMP From The Last 14 Days
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February 27, 2015
09:58 EDTMEMPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 500.com (WBAI) downgraded to Hold from Buy at Deutsche Bank... Akorn (AKRX) downgraded to Hold after share rally at Needham... Allscripts (MDRX) downgraded to Market Perform from Outperform at Leerink... Bank of America (BAC) downgraded to Neutral from Buy at UBS... Bill Barrett (BBG) downgraded to Hold from Buy at KLR Group... CA Technologies (CA) downgraded to Underperform from Neutral at Credit Suisse... CBOE Holdings (CBOE) downgraded at BofA/Merrill... CONE Midstream (CNNX) downgraded to Sector Perform from Outperform at RBC Capital... Calamos (CLMS) downgraded to Underperform from Neutral at Credit Suisse... Crane (CR) downgraded to Market Perform from Outperform at FBR Capital... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Barclays... EnerNOC (ENOC) downgraded to Buy from Strong Buy at Needham... Hercules Offshore (HERO) downgraded to Sell from Buy at Deutsche Bank... Insulet (PODD) downgraded at Oppenheimer... Intelsat (I) downgraded to Underperform from Neutral at Credit Suisse... Laredo Petroleum (LPI) downgraded to Market Perform from Outperform at Northland... Mavenir Systems (MVNR) downgraded to Equal Weight from Overweight at Morgan Stanley... Memorial Production (MEMP) downgraded to Underperform from Perform at Oppenheimer... Mobileye (MBLY) downgraded to Neutral from Buy at Dougherty... NTELOS (NTLS) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen (OCN) downgraded to Sell from Neutral at Compass Point... Pegasystems (PEGA) downgraded to Neutral from Buy at Merriman... Performant Financial (PFMT) downgraded to Neutral from Buy at Compass Point... Pharmacyclics (PCYC) downgraded to Neutral from Buy at Goldman... Potbelly (PBPB) downgraded to Underweight from Overweight at Piper Jaffray... SYNNEX (SNX) downgraded to Hold from Buy at Stifel... Safe Bulkers (SB) downgraded at Credit Suisse... Sarepta (SRPT) downgraded to Market Perform from Outperform at Cowen... Seadrill Partners (SDLP) downgraded to Sector Perform from Outperform at RBC Capital... Spirit Realty (SRC) downgraded at RBC Capital... Transocean (RIG) downgraded to Sector Perform from Outperform at Iberia... UIL Holdings (UIL) downgraded to Neutral from Outperform at RW Baird... WCI Communities (WCIC) downgraded to Neutral from Buy at Citigroup... Walter Investment (WAC) downgraded to Neutral from Outperform at Credit Suisse.
06:40 EDTMEMPMemorial Production downgraded to Underperform from Perform at Oppenheimer
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05:32 EDTMEMPMemorial Production downgraded to Underperform from Perform at Oppenheimer
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February 25, 2015
06:11 EDTMEMPMemorial Production reports Q4 EPS $1.88, not comparable to consensus 30c
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06:10 EDTMEMPMemorial Production sees FY15 CapEx $190M-$220M
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06:10 EDTMEMPMemorial Production sees FY15 total net average daily production 249-265 MMcfe/d
Sees FY15 oil average daily production 10.3-11 MBbls/d. Sees FY15 NGLs average daily production of 8.5-9. MBbls/d. Sees FY15 natural gas average daily production of 136-145 MMcf/d.
06:10 EDTMEMPMemorial Production reports Q4 average daily production up 9% to 227.8 MMcfe
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February 24, 2015
10:00 EDTMEMPOn The Fly: Analyst Upgrade Summary
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06:26 EDTMEMPMemorial Production acquires oil and gas properties
Memorial Production announced that it has consummated a transaction with Memorial Resource Development Corp. whereby MRD exchanged its East Texas and non-core Louisiana properties for all of MEMP's interests in the Terryville Field in North Louisiana and cash consideration of approximately $78M, subject to customary purchase price adjustments. Terms of the transaction were approved by the board of the general partner of MEMP and by the board's conflicts committee, which was comprised entirely of independent directors. The transaction closed on February 23, 2015 and has an effective date of January 1, 2015. MRD will receive, in addition to the cash consideration, all of MEMP's position in the Terryville Field in North Louisiana, which includes interests in 5.1 net wells. Total proved reserves are estimated to be approximately 20 Bcfe and estimated December 2014 net production was approximately 5 MMcfe/d. In exchange, MEMP will receive properties primarily located in the Joaquin Field in Shelby and Panola counties in East Texas. The acquired properties consist of 165.3 net wells in East Texas and West Louisiana. MEMP will operate approximately 71% of the acquired producing wells. The transaction is expected to be immediately accretive to distributable cash flow and net asset value, estimated net proved reserves of 267 Bcfe, estimated December net production of 27 MMcfe/d, and proved reserve to production ratio of 27 years.
06:01 EDTMEMPMemorial Production upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Memorial Production Partners to Overweight saying the company's distribution looks sustainable. The firm raised its price target for shares to $18 from $16.

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