EV Energy Partners, L.P. (EVEP) Sees Large Volume Increase
EV Energy Partners, L.P. (NASDAQ:EVEP) shares saw strong trading volume on Wednesday . 255,875 shares traded hands during trading, a decline of 6% from the previous session’s volume of 272,323 shares.The stock last traded at $2.51 and had previously closed at $2.46.
Separately, Zacks Investment Research raised shares of EV Energy Partners, L.P. from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research note on Friday, July 8th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $7.03.
The stock has a 50 day moving average of $2.51 and a 200-day moving average of $2.32. The company has a market cap of $122.20 million and a price-to-earnings ratio of 2.335.
EV Energy Partners, L.P. (NASDAQ:EVEP) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.43) by $0.15. The company had revenue of $38.30 million for the quarter, compared to analyst estimates of $52.29 million. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.25) earnings per share. Equities analysts anticipate that EV Energy Partners, L.P. will post ($1.23) EPS for the current fiscal year.
An institutional investor recently raised its position in EV Energy Partners, L.P. stock. GSA Capital Partners LLP raised its stake in EV Energy Partners, L.P. (NASDAQ:EVEP) by 131.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 362,400 shares of the company’s stock after buying an additional 205,700 shares during the period. GSA Capital Partners LLP owned about 0.74% of EV Energy Partners, L.P. worth $1,018,000 as of its most recent SEC filing.
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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