EP Energy Corp. (EPE) Downgraded by Zacks Investment Research to Sell
EP Energy Corp. (NYSE:EPE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
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. “
Several other equities research analysts also recently commented on EPE. Jefferies Group reiterated an “underperform” rating and set a $3.00 target price (up from $2.50) on shares of EP Energy Corp. in a research report on Monday, July 18th. Citigroup Inc. reiterated a “neutral” rating and set a $5.00 target price (down from $6.50) on shares of EP Energy Corp. in a research report on Monday, July 18th. KLR Group upgraded shares of EP Energy Corp. from an “accumulate” rating to a “buy” rating and cut their target price for the stock from $7.00 to $6.50 in a research report on Monday, July 18th. Northland Securities upgraded shares of EP Energy Corp. from an “under perform” rating to a “market perform” rating in a research report on Friday, August 5th. Finally, FBR & Co reiterated a “marketperform” rating on shares of EP Energy Corp. in a research report on Monday, September 12th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $4.76.
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Shares of EP Energy Corp. (NYSE:EPE) traded down 1.96% during midday trading on Monday, hitting $4.01. 1,797,437 shares of the stock traded hands. The stock’s market capitalization is $1.01 billion. The firm has a 50-day moving average price of $4.10 and a 200-day moving average price of $4.65. EP Energy Corp. has a 52 week low of $1.60 and a 52 week high of $7.44.
EP Energy Corp. (NYSE:EPE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. During the same quarter in the prior year, the business earned $0.17 EPS.
A number of hedge funds have recently made changes to their positions in the stock. Ronald Blue & Co. LLC purchased a new stake in EP Energy Corp. during the third quarter valued at about $103,000. Sterling Capital Management LLC purchased a new stake in EP Energy Corp. during the second quarter valued at about $2,701,000. Schwab Charles Investment Management Inc. raised its stake in EP Energy Corp. by 157.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 185,714 shares of the company’s stock valued at $962,000 after buying an additional 113,442 shares during the last quarter. Columbia Pacific Advisors LLC raised its stake in EP Energy Corp. by 8.6% in the second quarter. Columbia Pacific Advisors LLC now owns 769,501 shares of the company’s stock valued at $3,986,000 after buying an additional 60,751 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in EP Energy Corp. by 3,199.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 32,693 shares of the company’s stock valued at $169,000 after buying an additional 31,702 shares during the last quarter. Institutional investors and hedge funds own 73.23% of the company’s stock.
EP Energy Corp. 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 diverse base of producing assets and are focused on creating value through the development of its drilling inventory located in four areas: the Eagle Ford Shale (South Texas), the Wolfcamp Shale (Permian Basin in West Texas), the Altamont Field in the Uinta Basin (Northeastern Utah) and the Haynesville Shale (North Louisiana).
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