In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Mid-Con Energy Partners Lp (NASDAQ:MCEP) reported that Gainsco Inc has picked up 1,395,349 of common stock as of 2016-12-14.
The acquisition brings the aggregate amount owned by Gainsco Inc to a total of 1,395,349 representing a 4.5% stake in the company.
For those not familiar with the company, Mid-Con Energy Partners, LP is engaged in the ownership, acquisition, exploitation and development of producing oil and natural gas properties in North America, with a focus on enhanced oil recovery (EOR). The Company’s properties are located in the Mid-Continent and Permian Basin regions of the United States in over five areas: Southern Oklahoma; Northeastern Oklahoma; parts of Oklahoma, Colorado and Texas within the Hugoton; Texas Gulf Coast, and Texas within the Eastern Shelf of the Permian.
A glance at Mid-Con Energy Partners Lp (NASDAQ:MCEP)’s key stats reveals a current market capitalization of $71.42 million based on 29.91 million shares outstanding and a price at last close of $2.41 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-08-17, Ball picked up 40,000 at a purchase price of $2.54. This brings their total holding to 81,310 as of the date of the filing.
On the sell side, the most recent transaction saw Peterson unload 26,250 shares at a sale price of $2.02. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Mid-Con Energy Partners Lp (NASDAQ:MCEP) as things move forward to see if its progress aligns with these transactions.
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