EV Energy Partners, L.P. (NASDAQ:EVEP) was down 1.7% during mid-day trading on Wednesday . The company traded as low as $2.31 and last traded at $2.35, with a volume of 111,545 shares trading hands. The stock had previously closed at $2.39.

Separately, Citigroup Inc. downgraded shares of EV Energy Partners, L.P. from a “buy” rating to a “neutral” rating and reduced their price target for the company from $4.50 to $2.00 in a research note on Monday, March 21st. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. EV Energy Partners, L.P. has a consensus rating of “Hold” and a consensus price target of $7.56.

The firm has a market cap of $114.30 million and a PE ratio of 2.18. The firm’s 50-day moving average price is $2.50 and its 200 day moving average price is $2.31.

EV Energy Partners, L.P. (NASDAQ:EVEP) last announced its earnings results on Tuesday, May 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.15. During the same period in the prior year, the firm earned ($1.25) earnings per share. The business earned $38.30 million during the quarter, compared to analysts’ expectations of $52.29 million. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. Equities analysts predict that EV Energy Partners, L.P. will post ($1.35) EPS for the current year.

An institutional investor recently raised its position in EV Energy Partners, L.P. stock. GSA Capital Partners LLP increased its position in EV Energy Partners, L.P. (NASDAQ:EVEP) by 131.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 362,400 shares of the company’s stock after buying an additional 205,700 shares during the period. GSA Capital Partners LLP owned approximately 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.