EV Energy Partners, L.P. (EVEP) Debt Trading 1.3% Lower
An issue of EV Energy Partners, L.P. (NASDAQ:EVEP) debt fell 1.3% against its face value during trading on Monday. The high-yield issue of debt has a 8% coupon and will mature on April 15, 2019. The debt is now trading at $66.50 and was trading at $64.13 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
Separately, Zacks Investment Research upgraded shares of EV Energy Partners, L.P. from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Friday, July 8th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $5.04.
Shares of EV Energy Partners, L.P. (NASDAQ:EVEP) opened at 2.29 on Tuesday. The firm’s market cap is $112.34 million. The company’s 50-day moving average is $2.35 and its 200 day moving average is $2.38. EV Energy Partners, L.P. has a 1-year low of $1.60 and a 1-year high of $7.99.
EV Energy Partners, L.P. (NASDAQ:EVEP) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.28. The firm had revenue of $42.83 million for the quarter, compared to analyst estimates of $54.48 million. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.25 EPS. On average, equities research analysts expect that EV Energy Partners, L.P. will post ($1.91) EPS for the current fiscal year.
An institutional investor recently raised its position in EV Energy Partners, L.P. stock. KCG Holdings Inc. raised its position in shares of EV Energy Partners, L.P. (NASDAQ:EVEP) by 82.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,793 shares of the company’s stock after buying an additional 54,582 shares during the period. KCG Holdings Inc. owned 0.25% of EV Energy Partners, L.P. worth $277,000 at the end of the most recent quarter.
EV Energy Partners, L.P. Company Profile
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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