EP Energy Corp (EPE) Expected to Post Quarterly Sales of $281.42 Million
Brokerages forecast that EP Energy Corp (NYSE:EPE) will announce $281.42 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for EP Energy Corp’s earnings. The highest sales estimate is $297.76 million and the lowest is $252.5 million. EP Energy Corp reported sales of $100 million during the same quarter last year, which indicates a positive year over year growth rate of 181.4%. The firm is expected to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that EP Energy Corp will report full year sales of $281.42 million for the current financial year, with estimates ranging from $1.03 billion to $1.23 billion. For the next financial year, analysts forecast that the business will post sales of $1.15 billion per share, with estimates ranging from $1.09 billion to $1.24 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow EP Energy Corp.
EP Energy Corp (NYSE:EPE) last posted its quarterly earnings data on Wednesday, March 1st. The energy producer reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.08. During the same quarter last year, the business earned $0.22 earnings per share.
Several research firms recently weighed in on EPE. Deutsche Bank AG cut their price target on EP Energy Corp from $7.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, March 7th. FBR & Co reaffirmed a “hold” rating on shares of EP Energy Corp in a report on Thursday, March 2nd. Scotiabank set a $6.00 price target on EP Energy Corp and gave the company a “hold” rating in a report on Thursday, March 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $8.00 price target on shares of EP Energy Corp in a report on Friday, March 31st. Finally, Jefferies Group LLC reaffirmed an “underperform” rating and issued a $4.00 price target (up previously from $3.50) on shares of EP Energy Corp in a report on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.21.
Shares of EP Energy Corp (NYSE:EPE) opened at 4.44 on Friday. The firm’s market cap is $1.13 billion. EP Energy Corp has a 1-year low of $3.29 and a 1-year high of $7.49. The company’s 50 day moving average price is $4.64 and its 200-day moving average price is $5.07.
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In other news, VP Francis C. Olmsted III sold 15,824 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $4.54, for a total value of $71,840.96. Following the sale, the vice president now directly owns 141,964 shares in the company, valued at approximately $644,516.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bowling Portfolio Management LLC raised its stake in EP Energy Corp by 0.6% in the fourth quarter. Bowling Portfolio Management LLC now owns 103,883 shares of the energy producer’s stock valued at $680,000 after buying an additional 628 shares in the last quarter. Cigna Investments Inc. New bought a new stake in EP Energy Corp during the fourth quarter valued at $180,000. Metropolitan Life Insurance Co. NY bought a new stake in EP Energy Corp during the fourth quarter valued at $168,000. Fir Tree Inc. bought a new stake in EP Energy Corp during the fourth quarter valued at $23,459,000. Finally, Fiera Capital Corp bought a new stake in EP Energy Corp during the fourth quarter valued at $655,000. Institutional investors own 73.06% 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 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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