EV Energy Partners, L.P. (NASDAQ:EVEP) shares rose 8.4% during trading on Tuesday . The company traded as high as $2.63 and last traded at $2.59, with a volume of 242,671 shares trading hands. The stock had previously closed at $2.39.

EVEP has been the topic of a number of recent research reports. Zacks Investment Research upgraded EV Energy Partners, L.P. from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a research report on Friday. Citigroup Inc. downgraded EV Energy Partners, L.P. from a “buy” rating to a “neutral” rating and cut their price target for the company from $4.50 to $2.00 in a research note on Monday, March 21st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $7.03.

The firm has a market capitalization of $126.07 million and a price-to-earnings ratio of 2.41. The company has a 50-day moving average price of $2.51 and a 200-day moving average price of $2.31.

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

An institutional investor recently bought a new position in EV Energy Partners, L.P. stock. Penserra Capital Management LLC acquired a new stake in shares of EV Energy Partners, L.P. (NASDAQ:EVEP) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 quarter.

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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