Zacks Investment Research Lowers EP Energy (EPE) to Hold

Zacks Investment Research cut shares of EP Energy (NYSE:EPE) from a buy rating to a hold rating in a report released on Tuesday morning.

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. “

Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of EP Energy from a sell rating to a strong sell rating in a research note on Sunday, December 31st. Robert W. Baird assumed coverage on shares of EP Energy in a research note on Tuesday, December 19th. They set an outperform rating and a $2.00 price objective for the company. Jefferies Group restated an underperform rating and set a $1.00 price objective on shares of EP Energy in a research note on Tuesday, October 10th. Royal Bank of Canada set a $3.00 target price on shares of EP Energy and gave the company a hold rating in a research note on Wednesday, December 20th. Finally, BMO Capital Markets set a $3.00 target price on shares of EP Energy and gave the company a hold rating in a research note on Tuesday, October 10th. Eight investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $3.52.

EP Energy (NYSE EPE) traded down $0.04 during trading on Tuesday, hitting $2.31. 527,879 shares of the stock were exchanged, compared to its average volume of 773,994. EP Energy has a one year low of $1.54 and a one year high of $6.32. The company has a debt-to-equity ratio of 8.01, a quick ratio of 0.65 and a current ratio of 0.69. The firm has a market cap of $600.90, a P/E ratio of -2.18 and a beta of 4.45.

EP Energy (NYSE:EPE) last posted its quarterly earnings data on Wednesday, November 1st. The energy producer reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.01. EP Energy had a negative net margin of 25.44% and a negative return on equity of 8.50%. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $264.90 million. During the same period in the prior year, the business posted $0.10 EPS. analysts expect that EP Energy will post -0.42 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in EP Energy by 1.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,313,377 shares of the energy producer’s stock valued at $19,447,000 after purchasing an additional 52,904 shares during the last quarter. Virtu KCG Holdings LLC lifted its stake in EP Energy by 86.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 82,065 shares of the energy producer’s stock valued at $300,000 after purchasing an additional 38,029 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in EP Energy by 1.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 817,432 shares of the energy producer’s stock valued at $2,992,000 after purchasing an additional 8,690 shares during the last quarter. Alliancebernstein L.P. lifted its stake in EP Energy by 9.6% in the 2nd quarter. Alliancebernstein L.P. now owns 187,162 shares of the energy producer’s stock valued at $685,000 after purchasing an additional 16,400 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in EP Energy in the 2nd quarter valued at about $313,000. Institutional investors and hedge funds own 68.89% of the company’s stock.

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About EP Energy

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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