EV Energy Partners, L.P. (NASDAQ:EVEP)’s share price dropped 4.5% during trading on Monday . The company traded as low as $2.33 and last traded at $2.33, with a volume of 246,457 shares trading hands. The stock had previously closed at $2.44.

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 report on Friday, July 8th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.03.

The firm has a 50 day moving average price of $2.47 and a 200-day moving average price of $2.32. The firm has a market cap of $114.79 million and a PE ratio of 2.19.

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 analysts’ consensus estimates of ($0.43) by $0.15. During the same period in the prior year, the business posted ($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 was down 18.9% on a year-over-year basis. Analysts forecast that EV Energy Partners, L.P. will post ($1.22) EPS for the current fiscal year.

A hedge fund recently raised its stake in EV Energy Partners, L.P. stock. GSA Capital Partners LLP boosted 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 Securities and Exchange Commission. 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 filing with the SEC.

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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