Shares of EV Energy Partners, L.P. (NASDAQ:EVEP) dropped 1.9% during mid-day trading on Thursday . The company traded as low as $2.56 and last traded at $2.57, with a volume of 114,597 shares. The stock had previously closed at $2.62.

EVEP has been the subject of a number of research reports. Citigroup Inc. cut EV Energy Partners, L.P. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.50 to $2.00 in a report on Monday, March 21st. Zacks Investment Research upgraded EV Energy Partners, L.P. from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a report on Friday, July 8th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. EV Energy Partners, L.P. currently has an average rating of “Hold” and a consensus price target of $7.03.

The company has a market capitalization of $122.64 million and a PE ratio of 2.34. The firm has a 50-day moving average price of $2.52 and a 200-day moving average price of $2.32.

EV Energy Partners, L.P. (NASDAQ:EVEP) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.15. The company earned $38.30 million during the quarter, compared to analysts’ expectations of $52.29 million. During the same period in the prior year, the company posted ($1.25) earnings per share. The company’s quarterly revenue was down 18.9% on a year-over-year basis. On average, equities analysts forecast that EV Energy Partners, L.P. will post ($1.23) earnings per share for the current year.

A hedge fund recently bought a new stake in EV Energy Partners, L.P. stock. Penserra Capital Management LLC acquired a new stake in EV Energy Partners, L.P. (NASDAQ:EVEP) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 780,628 shares of the company’s stock, valued at approximately $2,194,000. Penserra Capital Management LLC owned approximately 1.60% of EV Energy Partners, L.P. at the end of the most recent reporting period.

EV Energy Partners, L.P. is engaged in the acquisition, development and production of oil and natural gas properties and all of its operations are located in the United States. The Company’s oil and natural gas properties are located in the Barnett Shale; the Appalachian Basin, which includes the Utica Shale; the San Juan Basin; Michigan; Central Texas, which includes the Austin Chalk area; the Mid-Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana; the Monroe Field in Northern Louisiana, and the Permian Basin.

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