Shares of EV Energy Partners, L.P. (NASDAQ:EVEP) hit a new 52-week low on Thursday . The stock traded as low as $0.43 and last traded at $0.43, with a volume of 462,589 shares trading hands. The stock had previously closed at $0.53.
EVEP has been the subject of several research analyst reports. Zacks Investment Research lowered EV Energy Partners, L.P. from a “hold” rating to a “sell” rating in a report on Monday, May 15th. Citigroup Inc. reaffirmed a “neutral” rating and set a $1.50 target price (down from $2.50) on shares of EV Energy Partners, L.P. in a report on Sunday, May 14th. Finally, Stifel Nicolaus downgraded EV Energy Partners, L.P. from a “hold” rating to a “sell” rating and reduced their target price for the company from $1.25 to $0.50 in a report on Thursday, June 8th.
EV Energy Partners, L.P. (NASDAQ:EVEP) last announced its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. EV Energy Partners, L.P. had a negative return on equity of 7.43% and a negative net margin of 120.31%. The firm had revenue of $56.05 million for the quarter, compared to the consensus estimate of $52.09 million. During the same quarter in the previous year, the business earned ($0.58) earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. On average, equities analysts anticipate that EV Energy Partners, L.P. will post ($1.79) earnings per share for the current fiscal year.
In other EV Energy Partners, L.P. news, Director Mark A. Houser bought 38,467 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was purchased at an average cost of $0.68 per share, for a total transaction of $26,157.56. Following the completion of the purchase, the director now directly owns 381,218 shares of the company’s stock, valued at $259,228.24. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Houser bought 40,205 shares of the business’s stock in a transaction on Friday, June 16th. The shares were acquired at an average price of $0.64 per share, with a total value of $25,731.20. Following the completion of the purchase, the director now directly owns 431,130 shares of the company’s stock, valued at $275,923.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 118,517 shares of company stock valued at $77,008. 10.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of EV Energy Partners, L.P. by 422.8% in the first quarter. Morgan Stanley now owns 1,429,391 shares of the oil and gas company’s stock valued at $2,115,000 after buying an additional 1,155,996 shares during the period. Arrow Investment Advisors LLC increased its stake in EV Energy Partners, L.P. by 11.1% in the first quarter. Arrow Investment Advisors LLC now owns 424,788 shares of the oil and gas company’s stock worth $629,000 after buying an additional 42,434 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in EV Energy Partners, L.P. by 2.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 145,084 shares of the oil and gas company’s stock worth $215,000 after buying an additional 4,018 shares during the last quarter. Hedge funds and other institutional investors own 11.59% of the company’s stock.
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About EV Energy Partners, L.P.
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 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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