Royal Bank Of Canada Downgrades EP Energy Corporation (EPE) to Sector Perform

Royal Bank Of Canada cut shares of EP Energy Corporation (NYSE:EPE) from an outperform rating to a sector perform rating in a report released on Thursday morning, Marketbeat.com reports. Royal Bank Of Canada currently has $4.50 price target on the energy producer’s stock, down from their previous price target of $7.00.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus initiated coverage on shares of EP Energy Corporation in a report on Thursday, April 13th. They issued a hold rating and a $5.00 target price for the company. Scotiabank reiterated a hold rating and issued a $4.00 target price on shares of EP Energy Corporation in a report on Monday, March 27th. FBR & Co set a $5.00 target price on shares of EP Energy Corporation and gave the company a hold rating in a report on Tuesday, May 16th. Citigroup Inc. upgraded shares of EP Energy Corporation from a sell rating to a neutral rating and increased their target price for the company from $5.00 to $6.00 in a report on Tuesday, May 9th. Finally, BidaskClub downgraded shares of EP Energy Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the stock. EP Energy Corporation has an average rating of Hold and a consensus price target of $4.42.

Shares of EP Energy Corporation (NYSE EPE) traded down 3.84% on Thursday, hitting $3.51. 334,846 shares of the stock were exchanged. EP Energy Corporation has a 1-year low of $3.29 and a 1-year high of $7.49. The stock’s 50-day moving average is $3.76 and its 200-day moving average is $4.63. The stock’s market cap is $895.40 million.

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In other EP Energy Corporation news, VP Francis C. Olmsted III sold 15,824 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $4.54, for a total transaction of $71,840.96. Following the completion of the transaction, the vice president now owns 141,964 shares in the company, valued at $644,516.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of EP Energy Corporation by 8.1% in the first quarter. JPMorgan Chase & Co. now owns 5,260,473 shares of the energy producer’s stock worth $24,988,000 after buying an additional 394,669 shares in the last quarter. King Street Capital Management L.P. raised its position in shares of EP Energy Corporation by 33.3% in the first quarter. King Street Capital Management L.P. now owns 4,000,000 shares of the energy producer’s stock worth $19,000,000 after buying an additional 1,000,000 shares in the last quarter. Columbia Pacific Advisors LLC raised its position in shares of EP Energy Corporation by 41.7% in the first quarter. Columbia Pacific Advisors LLC now owns 1,259,086 shares of the energy producer’s stock worth $5,981,000 after buying an additional 370,233 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of EP Energy Corporation by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 815,750 shares of the energy producer’s stock worth $5,343,000 after buying an additional 23,203 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new position in shares of EP Energy Corporation during the first quarter worth $3,349,000. Hedge funds and other institutional investors own 72.31% of the company’s stock.

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).

Analyst Recommendations for EP Energy Corporation (NYSE:EPE)

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