Quick Win By The Algorithm: EVEP Stock Price Sustained By Strong Outlook Of The Energy Sector
Quick Win By The Algorithm
EV Energy Partners, L.P. engages in the acquisition, development, and production of oil and natural gas properties in the United States. Its properties are located in 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. 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. EV Energy Partners, L.P. was founded in 2006 and is based in Houston, Texas.
Expectations for the overall market conditions of the energy sector remains strong in 2018. The reason is mainly due to output cuts led by the Organization of the Petroleum Exporting Countries and Russia.
Therefore, the energy company formed by one of the largest and most successful managers of oil and gas assets for institutional investors, and which has a proven fourteen year track record of successfully acquiring and operating oil and gas properties in a variety of basins, is also showing a positive outlook. Since the beginning of the year, EVEP’s stock price went up 70.41%.
Moreover, Energy Partners requested to the Nasdaq Stock Market the transfer of its listing from the Nasdaq Global Market to the Nasdaq Capital Market. The Nasdaq Capital Market is an equity market for companies that have relatively small levels of market capitalization. The listing requirements for this Small Cap companies are less stringent.
On January 11th, 2018, EVEP announced that it received the approval of its request from the Nasdaq. As a result of the transfer, EVEP expects to be granted an additional 180-day grace period to regain compliance with Nasdaq’s minimum bid price requirement.
The company is expecting that the trading on the Nasdaq Capital Market will start effective today, January 16th, 2018. It will continue to trade under the symbol EVEP.
On January 9th, 2018, I Know First issued a bullish 3 days forecast for EV Energy Partners, L.P (NASDAQ: EVEP). The forecast showed a signal of 18.92 and a predictability of 0.11. In accordance with the forecast, EVEP’s stock returned 28.85% over this period, solidifying another quick win by the I Know First algorithm.
Current I Know First subscribers received this bullish EVEP forecast on January 9th, 2018.
To understand what the signal and the predictability means, click here.
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.
