Quick Win By The Algorithm: EVEP Is Still Holding Onto Its Market Share

Quick Win By The Algorithm

On September 22nd, 2017, I Know First issued a bullish 3-days forecast for EV Energy Partners (NASDAQ: EVEP). The forecast showed a signal of 51.69 and a predictability of 0.16. In accordance with the forecast, EVEP’s stock returned 39% over this period, solidifying another quick win by the I Know First algorithm.

EV Energy Partners, L.P. engages in the acquisition, development, and production of oil and natural gas properties in the United States. As of December 31, 2016, the company had estimated net proved reserves of 12.6 million barrels of oil; 575.3 billion cubic feet of natural gas; and 33.4 million barrels of natural gas liquids. EV Energy GP, L.P. serves as the general partner of EV Energy Partners, L.P. EVEP was founded in 2006 and is based in Houston, Texas.

 

EV Energy Partners announced its second quarter 2017 results. The company’s net loss showed better signs, decreasing from $50.8 million in the first quarter of 2017 to $25.2 million. This represents a recovery of around 50% in its earnings.

Moreover, production of natural gas was 171.9 million cubic feet equivalent per day in the second quarter of 2017, showing a slight increase from its 171.6 million in the first quarter of this year. In comparison to the second quarter of 2016, EVEP’s revenue increased by 30.87% from $42.83 million to $56.05 million in the second quarter of 2017.

Thus, despite being in a difficult position, EVEP is still holding onto its market share.

Current I Know First subscribers received this bullish EVEP forecast on September 22nd, 2017

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.