Arrow Investment Advisors LLC increased its position in EV Energy Partners, L.P. (NASDAQ:EVEP) by 46.7% during the second quarter, Holdings Channel reports. The institutional investor owned 356,156 shares of the company’s stock after buying an additional 113,329 shares during the period. Arrow Investment Advisors LLC’s holdings in EV Energy Partners, L.P. were worth $816,000 as of its most recent SEC filing.
Shares of EV Energy Partners, L.P. (NASDAQ:EVEP) traded down 4.58% during midday trading on Monday, hitting $2.29. 85,746 shares of the stock traded hands. The firm has a 50-day moving average price of $2.35 and a 200 day moving average price of $2.37. EV Energy Partners, L.P. has a one year low of $1.60 and a one year high of $7.99. The stock’s market cap is $112.34 million.
EV Energy Partners, L.P. (NASDAQ:EVEP) last posted its earnings results on Tuesday, August 9th. The company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.28. The company had revenue of $42.83 million for the quarter, compared to analyst estimates of $54.48 million. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.25 EPS. Analysts anticipate that EV Energy Partners, L.P. will post ($1.91) earnings per share for the current year.
Separately, Zacks Investment Research lowered EV Energy Partners, L.P. from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $5.04.
About EV Energy Partners, L.P.
EV Energy Partners, L.P. is engaged in the acquisition, development and production of oil and natural gas properties and all of its operations are located in the United States. The Company’s oil and natural gas properties are located in the Barnett Shale; the Appalachian Basin, which includes the Utica Shale; the San Juan Basin; Michigan; Central Texas, which includes the Austin Chalk area; the Mid-Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana; the Monroe Field in Northern Louisiana, and the Permian Basin.
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