JPMorgan Chase & Co. reduced its position in EV Energy Partners, L.P. (NASDAQ:EVEP) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,046 shares of the oil and gas company’s stock after selling 3,211 shares during the period. JPMorgan Chase & Co. owned about 0.21% of EV Energy Partners, L.P. worth $154,000 at the end of the most recent quarter.
Separately, Raymond James Financial Services Advisors Inc. increased its position in shares of 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 period. Hedge funds and other institutional investors own 11.58% of the company’s stock.
EV Energy Partners, L.P. (NASDAQ EVEP) opened at 0.395 on Friday. EV Energy Partners, L.P. has a 52-week low of $0.37 and a 52-week high of $2.72. The company’s 50-day moving average is $0.56 and its 200 day moving average is $1.16.
EV Energy Partners, L.P. (NASDAQ:EVEP) last released its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.01. The business had revenue of $56.05 million during the quarter, compared to the consensus estimate of $52.09 million. EV Energy Partners, L.P. had a negative return on equity of 7.43% and a negative net margin of 120.31%. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.58) EPS. On average, analysts forecast that EV Energy Partners, L.P. will post ($1.97) earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on EVEP. Zacks Investment Research downgraded shares of EV Energy Partners, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Citigroup Inc. reiterated a “neutral” rating and set a $1.50 target price (down previously from $2.50) on shares of EV Energy Partners, L.P. in a research report on Sunday, May 14th. Finally, Stifel Nicolaus lowered shares of EV Energy Partners, L.P. from a “hold” rating to a “sell” rating and reduced their target price for the stock from $1.25 to $0.50 in a research note on Thursday, June 8th.
In related news, Director Mark A. Houser bought 40,205 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were purchased at an average price of $0.64 per share, with a total value of $25,731.20. Following the transaction, the director now owns 431,130 shares in the company, valued at approximately $275,923.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Houser acquired 38,467 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $0.68 per share, for a total transaction of $26,157.56. Following the transaction, the director now directly owns 381,218 shares in the company, valued at $259,228.24. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 118,517 shares of company stock worth $77,008. 10.20% of the stock is owned by insiders.
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 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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