EP Energy (EPE) Upgraded to “Buy” by Zacks Investment Research

EP Energy (NYSE:EPE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $2.50 price target on the energy producer’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.62% from the company’s current price.

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 analysts have also recently weighed in on the company. ValuEngine cut EP Energy from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. JPMorgan Chase & Co. cut EP Energy from a “neutral” rating to an “underweight” rating in a report on Thursday, November 2nd. Jefferies Group reissued an “underperform” rating and issued a $1.00 price target on shares of EP Energy in a report on Tuesday, October 10th. Stifel Nicolaus set a $3.00 price target on EP Energy and gave the stock a “hold” rating in a report on Thursday, October 5th. Finally, Royal Bank of Canada set a $3.00 price target on EP Energy and gave the stock a “hold” rating in a report on Wednesday, December 20th. Nine research analysts have rated the stock with a sell rating, six have issued 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 $3.54.

EP Energy (EPE) traded down $0.05 during midday trading on Wednesday, hitting $2.26. The stock had a trading volume of 903,447 shares, compared to its average volume of 939,671. EP Energy has a 12 month low of $1.54 and a 12 month high of $6.32. The firm has a market capitalization of $608.39, a PE ratio of -2.11 and a beta of 4.44. The company has a debt-to-equity ratio of 8.01, a quick ratio of 0.65 and a current ratio of 0.69.

EP Energy (NYSE:EPE) last released its quarterly earnings results on Wednesday, November 1st. The energy producer reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.01. EP Energy had a negative return on equity of 8.50% and a negative net margin of 25.44%. The company had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $264.90 million. During the same period in the previous year, the firm posted $0.10 earnings per share. analysts forecast that EP Energy will post -0.42 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in EPE. Wells Fargo & Company MN grew its position in shares of EP Energy by 11.7% in the second quarter. Wells Fargo & Company MN now owns 28,848 shares of the energy producer’s stock valued at $106,000 after purchasing an additional 3,028 shares during the period. SG Americas Securities LLC purchased a new stake in shares of EP Energy in the third quarter valued at $160,000. Rhumbline Advisers grew its position in shares of EP Energy by 0.6% in the second quarter. Rhumbline Advisers now owns 58,536 shares of the energy producer’s stock valued at $214,000 after purchasing an additional 375 shares during the period. Virtu KCG Holdings LLC grew its position in shares of EP Energy by 86.4% in the second quarter. Virtu KCG Holdings LLC now owns 82,065 shares of the energy producer’s stock valued at $300,000 after purchasing an additional 38,029 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in shares of EP Energy in the second quarter valued at $313,000. 68.89% of the stock is owned by institutional investors and hedge funds.

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About EP Energy

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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