Raymond James Lowers EV Energy Price Target to $47.00 (EVEP)
Analysts at Raymond James cut their price objective on shares of EV Energy (NASDAQ:EVEP) from $50.00 to $47.00 in a research report issued to clients and investors on Monday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 28.00% from the stock’s previous close.
A number of other analysts have also recently weighed in on EVEP. Analysts at RBC Capital downgraded shares of EV Energy from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, August 14th. They now have a $40.00 price target on the stock, down previously from $48.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of EV Energy in a research note to investors on Tuesday, August 13th. They now have a $53.00 price target on the stock, down previously from $57.00. Finally, analysts at Oppenheimer downgraded shares of EV Energy from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, August 12th. They now have a GBX 49 ($0.79) price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. EV Energy presently has a consensus rating of “Hold” and an average price target of $48.20.
Shares of EV Energy (NASDAQ:EVEP) traded down 1.24% during mid-day trading on Monday, hitting $36.72. 371,204 shares of the company’s stock traded hands. EV Energy has a 52-week low of $32.61 and a 52-week high of $66.30. The stock has a 50-day moving average of $37.8 and a 200-day moving average of $42.78. The company’s market cap is $1.564 billion.
EV Energy (NASDAQ:EVEP) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.58. The company had revenue of $81.60 million for the quarter, compared to the consensus estimate of $85.87 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Analysts expect that EV Energy will post $0.38 EPS for the current fiscal year.
In other EV Energy news, CEO Mark A. Houser bought 15,000 shares of EV Energy stock on the open market in a transaction dated Friday, October 18th. The shares were purchased at an average price of $36.86 per share, for a total transaction of $552,900.00. The purchase was disclosed in a document filed with the SEC, which is available at this link.
EV Energy Partners, L.P. is engaged in the acquisition, development and production of oil and natural gas properties.
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