Energy & Mining

EV Energy Partners, L.P. (NASDAQ:EVEP) Stock Booms!

EV Energy Partners, L.P. (NASDAQ:EVEP)

EV Energy Partners, L.P. (NASDAQ:EVEP)

EV Energy Partners, L.P. (NASDAQ:EVEP) shares broke above six-month resistance levels and more than doubled since early September. EVEP stock ended Thursday’s trading session at $0.77 then opened today at $0.78 before rocketing to an inter-day high of $1.16 on heavy volume. EVEP shares have an average trading volume under 200,000 shares but today almost 3 million shares have exchanged hands with 30 minutes left in the trading day.

NASDAQ:EVEP

EV Energy Partners, L.P. (NASDAQ:EVEP), based in Houston, TX, specializes in the acquisition, operation, and development of onshore oil and gas properties in the USA. Operations are currently ongoing at the Barnett Shale, the San Juan Basin, the Appalachian Basin, Michigan, Central Texas, the Monroe Field in Northern Louisiana, the Mid–Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana and the Permian Basin.

EVEP Stock Performance

Between the second week in June and the end of October, EV Energy Partners, L.P. (NASDAQ:EVEP) stock had a trading range between $0.40 and $0.80. The shares had established a new 52-week low in mid-August of $0.37. However in the last seven trading sessions, EVEP stock has gone from $0.60 to today’s high of $1.16.

In 2016, EVEP stock received five ratings downgrades from analysts. Five investment firms follow EV Energy Partners, L.P. (NASDAQ:EVEP). Four rate EVEP shares as a “Hold” and one rates the shares as a “Underperform”. YTD, EVEP has underperformed the sector by around 40%.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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