EP Energy Corp (EPE) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.17. Analysts expectations of $351.76 million. During the same quarter in the previous year, the company posted $0.17 EPS.
Many Wall Street Analysts have commented on EP Energy Corp. Jefferies Resumed EP Energy Corp on Jul 18, 2016 to “Underperform”, Price Target of the shares are set at $3.Shares were Upgraded by KLR Group on Jul 18, 2016 to ” Buy” and Lowered the Price Target to $ 6.50 from a previous price target of $7 .EP Energy Corp was Downgraded by Wolfe Research to ” Underperform” on May 10, 2016.
EP Energy Corp closed down -0.12 points or -3.27% at $3.55 with 42,43,435 shares getting traded on Tusday. Post opening the session at $3.73, the shares hit an intraday low of $3.48 and an intraday high of $3.77 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 17, 2016, Dane E Whitehead (EVP & CFO) sold 8 shares at $5.81 per share price. According to the SEC, on Aug 5, 2015, Brent J Smolik (CEO) purchased 63,300 shares at $7.93 per share price. On Jan 6, 2015, Clayton A. Carrell (COO) purchased 1,300 shares at $9.07 per share price, according to the Form-4 filing with the securities and exchange commission.
EP Energy Corporation 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 located in four operating areas which include the Eagle Ford Shale the Wolfcamp Shale the Altamont field in the Uinta Basin Northeastern Utah and the Haynesville Shale. The Company had proved reserves of approximately 622 million barrels of oil equivalent (MMBoe) and had average production of 97734 Boe/d. Approximately 223 MMBoe of its total proved reserves are proved developed producing assets which generated an average production of over 97.7 MBoe/d in 2014 from approximately 1325 wells. It had approximately 321 MMBbls of proved oil reserves over 94 MMBbls of proved natural gas liquids (NGLs) reserves and about 1243 Bcf of proved natural gas reserves in the United States.