Quick Win By The Algorithm: EVEP Releases Third Quarter Results
Quick Win By The Algorithm
On October 27th, 2017, I Know First issued a bullish 7-days forecast for EV Energy Partners (NASDAQ: EVEP). The forecast showed a signal of 15.42 and a predictability of 0.2. In accordance with the forecast, EVEP’s stock returned 87.32% 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.
On November 9th, 2017, EV Energy Partners released its third quarter 2017 results. The company continues to increase its performance, as in this Quick Win from September 22nd, 2017.
EVEP reported a reduction in its net losses from $25.2 million, in the second quarter of 2017, to $17.9 million. This means a reduction of 28% on its losses per share. In comparison with the same quarter from last year, when its net losses were $19.2 million, EVEP also showed signs of progress.
Moreover, the company saw an increase in its revenues from $51.3 million, on the three months ended September 30, 2016 to $52.6 million, on the same quarter of 2017.
Furthermore, EVEP’s operating losses have decreased in the last quarter result to $7.8 million, which means over 60% of reduction from the same period in the previous year, when it was $20 million.
Current I Know First subscribers received this bullish EVEP forecast on October 27th, 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.
