Zacks Investment Research cut shares of EP Energy Corporation (NYSE:EPE) from a strong-buy rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “EP Energy Corporation is involved in the acquisition and development of unconventional onshore oil and natural gas. The company’s assets consist of the Eagle Ford Shale in South Texas, the Wolfcamp Shale in Permian Basin in West Texas, the Altamont field in the Uinta Basin in Utah and the Haynesville Shale in North Louisiana. EP Energy Corporation is based in Houston, United States. “
A number of other equities research analysts have also recently weighed in on the company. Citigroup Inc. cut EP Energy Corporation from a neutral rating to a sell rating and dropped their price target for the company from $4.00 to $3.00 in a research note on Friday, July 21st. Scotiabank cut EP Energy Corporation from a sector perform rating to an underperform rating and dropped their price target for the company from $4.00 to $3.00 in a research note on Thursday, June 29th. Royal Bank Of Canada set a $5.00 price target on EP Energy Corporation and gave the company a hold rating in a research note on Thursday, August 24th. BidaskClub upgraded EP Energy Corporation from a strong sell rating to a sell rating in a research note on Saturday, June 17th. Finally, Bank of America Corporation started coverage on EP Energy Corporation in a research note on Wednesday, July 19th. They issued an underperform rating and a $4.00 price target on the stock. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $3.77.
EP Energy Corporation (NYSE EPE) traded down 2.33% during trading on Wednesday, hitting $2.93. 509,816 shares of the stock were exchanged. EP Energy Corporation has a 1-year low of $2.70 and a 1-year high of $7.49. The stock’s market cap is $747.15 million. The firm’s 50 day moving average price is $3.10 and its 200-day moving average price is $3.81.
EP Energy Corporation (NYSE:EPE) last posted its quarterly earnings results on Wednesday, August 2nd. The energy producer reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $296.00 million during the quarter, compared to the consensus estimate of $275.99 million. During the same quarter last year, the company posted $0.21 EPS.
Hedge funds have recently bought and sold shares of the business. Menta Capital LLC bought a new position in EP Energy Corporation during the 1st quarter worth $767,000. Bank of America Corp DE increased its position in EP Energy Corporation by 62.2% during the 1st quarter. Bank of America Corp DE now owns 223,298 shares of the energy producer’s stock worth $1,060,000 after buying an additional 85,614 shares during the period. OppenheimerFunds Inc. bought a new position in EP Energy Corporation during the 1st quarter worth $3,349,000. American International Group Inc. increased its position in EP Energy Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 23,840 shares of the energy producer’s stock worth $113,000 after buying an additional 1,581 shares during the period. Finally, JPMorgan Chase & Co. increased its position in EP Energy Corporation by 1.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,313,377 shares of the energy producer’s stock worth $19,447,000 after buying an additional 52,904 shares during the period. Hedge funds and other institutional investors own 70.42% of the company’s stock.
EP Energy Corporation Company Profile
EP Energy Corporation (EP Energy) is an independent exploration and production company. The Company is engaged in the acquisition and development of unconventional onshore oil and natural gas properties in the United States. The Company operates through a base of producing assets. It is involved in the development of its drilling inventory located in three areas: the Eagle Ford Shale (South Texas), the Wolfcamp Shale (Permian Basin in West Texas) and the Altamont Field in the Uinta Basin (Northeastern Utah).
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