EP Energy Corporation (EPE) Upgraded to Buy by Zacks Investment Research

EP Energy Corporation (NYSE:EPE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, October 9th. The firm presently has a $3.50 price target on the energy producer’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 27.74% from the company’s current price.

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. “

A number of other equities analysts also recently commented on EPE. Royal Bank Of Canada set a $7.00 price objective on shares of EP Energy Corporation and gave the stock a “buy” rating in a research note on Saturday, June 17th. BMO Capital Markets reiterated a “hold” rating and issued a $3.00 target price on shares of EP Energy Corporation in a research note on Tuesday, August 8th. Citigroup Inc. cut their target price on shares of EP Energy Corporation from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, July 13th. ValuEngine downgraded shares of EP Energy Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, BidaskClub upgraded shares of EP Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $3.77.

EP Energy Corporation (NYSE EPE) traded up 0.37% during midday trading on Monday, hitting $2.74. The stock had a trading volume of 348,758 shares. The company’s 50-day moving average price is $3.07 and its 200 day moving average price is $3.72. The stock’s market cap is $698.70 million. EP Energy Corporation has a 12-month low of $2.70 and a 12-month high of $7.49.

EP Energy Corporation (NYSE:EPE) last posted its quarterly earnings data on Wednesday, August 2nd. The energy producer reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. The business had revenue of $296.00 million for the quarter, compared to analyst estimates of $275.99 million. During the same quarter in the prior year, the company earned $0.21 earnings per share.

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Institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. increased its holdings in shares of EP Energy Corporation by 7.1% during the first quarter. American International Group Inc. now owns 23,840 shares of the energy producer’s stock worth $113,000 after purchasing an additional 1,581 shares during the period. Wells Fargo & Company MN increased its holdings in shares of EP Energy Corporation by 11.7% during the second quarter. Wells Fargo & Company MN now owns 28,848 shares of the energy producer’s stock worth $106,000 after purchasing an additional 3,028 shares during the period. KCG Holdings Inc. increased its holdings in shares of EP Energy Corporation by 24.4% during the first quarter. KCG Holdings Inc. now owns 44,036 shares of the energy producer’s stock worth $209,000 after purchasing an additional 8,645 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of EP Energy Corporation by 7.5% during the first quarter. Public Employees Retirement System of Ohio now owns 53,428 shares of the energy producer’s stock worth $254,000 after purchasing an additional 3,715 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of EP Energy Corporation by 0.6% during the second quarter. Rhumbline Advisers now owns 58,536 shares of the energy producer’s stock worth $214,000 after purchasing an additional 375 shares during the period. 70.42% of the stock is currently owned by institutional investors.

About EP Energy Corporation

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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