Updates on Independent Oil & Gas Industry Stocks -- Gastar Exploration, Legacy Reserves, Approach Resources, and Memorial Production Partners
NEW YORK, July 26, 2016 /PRNewswire/ --
Fluctuating oil and gas prices continue to take a toll on the U.S. Independent Oil and Gas space, which in the second quarter has signaled financing difficulties. Stock-Callers.com looks at the following equities and how they have fared over the last few trading sessions: Gastar Exploration Inc. (NYSE MKT: GST), Legacy Reserves L.P. (NASDAQ: LGCY), Approach Resources Inc. (NASDAQ: AREX), and Memorial Production Partners L.P. (NASDAQ: MEMP). Learn more about these stocks by accessing their freenotes at:
http://stock-callers.com/registration
Gastar Exploration
Houston, Texas-based Gastar Exploration Inc.'s shares saw a correction of 10.00%, closing Monday's trading session at $0.90 with a total volume of 1.40 million shares traded. The stock is trading 6.68% below its 50-day moving average. Shares of the Company, which engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the U.S., have a Relative Strength Index (RSI) of 41.12.
On July 21st, 2016, Gastar Exploration announced that it will release its second quarter 2016 results on August 4th, 2016 after the market closes. In conjunction with the release, Gastar has scheduled a conference call for 11:00 a.m. Eastern Time on August 5th, 2016. Free note on GST is available at:
http://stock-callers.com/registration/?symbol=GST
Legacy Reserves
On Monday, shares in Midland, Texas headquartered Legacy Reserves L.P. recorded a trading volume of 404,597 shares. The stock fell 4.09%, ending the day at $1.64. The Company's shares are trading below their 200-day moving average by 21.32%. Furthermore, shares in Legacy Reserves, which acquires and develops oil and natural gas properties primarily in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions of the U.S., have an RSI of 36.57.
On July 06th, 2016, research firm FBR Capital upgraded the Company's stock ratings from 'Underperform' to 'Market Perform'.
On July 12th, 2016, Legacy Reserves announced that it will provide details of its second quarter 2016 operating and financial performance with its earnings report which is scheduled to be released on August 3rd, 2016, following the close of NASDAQ trading. A teleconference and webcast will be held on August 4th, 2016, beginning at 9:00 a.m.Central Time. The complimentary notes on LGCY can be accessed at:
http://stock-callers.com/registration/?symbol=LGCY
Approach Resources
Fort Worth, Texas headquartered Approach Resources Inc.'s stock finished the day 9.78% lower at $1.66. A total volume of 819,556 shares was traded, which was above their three months average volume of 785,340 shares. The Company's shares are trading below their 200-day moving average by 12.26%. Additionally, shares of Approach Resources, which focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves in the U.S., have an RSI of 31.45.
On July 11th, 2016, research firm Wunderlich reiterated its 'Hold' rating with an increase of the target price to $4 a share from $3.50 a share for the Company's stock.
On July 21st, 2016, Approach Resources announced that it will host a conference call on August 4th, 2016, at 10:00 a.m. Central Time to discuss its second quarter 2016 financial and operating results. The Company plans to announce second quarter 2016 results on August 3rd, 2016, after close of trading. Visit us today and access our complete notes on AREX at:
http://stock-callers.com/registration/?symbol=AREX
Memorial Production Partners
Shares in Houston, Texas headquartered Memorial Production Partners L.P. ended yesterday's session 3.77% lower at $1.53. The stock recorded a trading volume of 640,108 shares, which was above its three months average volume of 629,470 shares. The Company's shares are trading 22.80% below their 50-day moving average. Moreover, shares of Memorial Production Partners, which through its subsidiary, Memorial Production Operating LLC, engages in the acquisition, development, exploitation, and production of oil and natural gas properties, have an RSI of 25.38.
As per the notes filed with the SEC on July 18th, 2016, Memorial Production Partners sold certain assets located in Colorado and Wyoming to Urban Fund II, LP and Urban Oil and Gas Partners B-1, L.P. for an adjusted purchase price of approximately $18.1 million in cash, subject to customary post-closing adjustments on July 14th, 2016. Get free access to your notes on MEMP at:
http://stock-callers.com/registration/?symbol=MEMP
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