EV Energy Lowered to “Underperform” at Zacks (EVEP)

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EV Energy (NASDAQ:EVEP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Thursday, American Banking & Market News reports. They currently have a $32.20 price target on the stock. Zacks‘ price objective indicates a potential downside of 8.37% from the stock’s previous close.

EV Energy (NASDAQ:EVEP) opened at 35.14 on Thursday. EV Energy has a 1-year low of $30.53 and a 1-year high of $63.55. The stock has a 50-day moving average of $33.41 and a 200-day moving average of $36.57. The company’s market cap is $1.699 billion.

EV Energy (NASDAQ:EVEP) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.29) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.57. The company had revenue of $81.41 million for the quarter, compared to the consensus estimate of $87.78 million. During the same quarter in the prior year, the company posted ($1.15) earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts expect that EV Energy will post $-0.36 EPS for the current fiscal year.

EVEP has been the subject of a number of other recent research reports. Analysts at Wunderlich reiterated a “hold” rating on shares of EV Energy in a research note to investors on Wednesday, November 13th. They now have a $39.00 price target on the stock. Separately, analysts at Stifel Nicolaus cut their price target on shares of EV Energy from $52.00 to $42.00 in a research note to investors on Wednesday, November 13th. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. upgraded shares of EV Energy from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, October 30th. They now have a $43.00 price target on the stock, down previously from $48.00. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. EV Energy presently has a consensus rating of “Hold” and a consensus target price of $43.84.

EV Energy Partners, L.P. is engaged in the acquisition, development and production of oil and natural gas properties.

To view Zacks’ full report, visit www.zacks.com

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