EV Energy Partners, L.P. (NASDAQ:EVEP)’s share price fell 1.9% on Thursday . The stock traded as low as $2.56 and last traded at $2.57, with a volume of 114,597 shares trading hands. The stock had previously closed at $2.62.

EVEP has been the topic of a number of recent analyst 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 note on Friday, July 8th. Citigroup Inc. lowered EV Energy Partners, L.P. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $4.50 to $2.00 in a research note on Monday, March 21st. Four investment 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. The stock presently has a consensus rating of “Hold” and an average target price of $7.03.

The firm’s 50 day moving average price is $2.52 and its 200-day moving average price is $2.32. The company has a market cap of $125.58 million and a P/E ratio of 2.40.

EV Energy Partners, L.P. (NASDAQ:EVEP) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.15. During the same quarter in the prior year, the company posted ($1.25) earnings per share. The business had revenue of $38.30 million for 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. On average, analysts predict 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 purchased a new position in EV Energy Partners, L.P. (NASDAQ:EVEP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 780,628 shares of the company’s stock, valued at approximately $2,194,000. Penserra Capital Management LLC owned about 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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