EV Energy Partners L.P. (EVEP) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 1,612,804 to 1,530,480 shares, with 5 days to go before the expiry. The short open interest has decreased by -5.1%, amounting to a reduction of -82,324 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 3.6% of the float of the company. The average daily volume of the stock is 279,775 shares. The short interest information was released on Wednesday Aug 24th after the market close.
EV Energy Partners L.P. (NASDAQ:EVEP): The stock opened at $2.43 on Wednesday but the bulls could not build on the opening and the stock topped out at $2.50 for the day. The stock traded down to $2.42 during the day, due to lack of any buying support eventually closed down at $2.45 with a loss of -1.21% for the day. The stock had closed at $2.48 on the previous day. The total traded volume was 126,791 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CFO of Ev Energy Partners, Lp, Bobrowski Nicholas, had purchased 10,000 shares in a transaction dated on April 4, 2016. The transaction was executed at $1.92 per share with total amount equaling $19,200.
EV Energy Partners, L.P. is an upstream master limited partnership. The Company is engaged in the acquisition, operation, and development of oil and gas properties. The exploration and production operation is engaged in the acquisition, development and production of its oil and natural gas properties. The midstream operation consists of its investments in Utica East Ohio Midstream LLC (UEO). Its oil and natural gas properties were located in the Barnett Shale, the Appalachian Basin (which includes the Utica Shale), the Mid Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana, the Monroe Field in Northern Louisiana, the San Juan Basin, Michigan, Central Texas (which includes the Austin Chalk area), and the Permian Basin. It had estimated net proved reserves of approximately 11.9 MMBbls of oil, over 712.2 Bcf of natural gas and approximately 36.1 MMBbls of natural gas liquids. The Companys general partner is EV Energy GP, L.P. (EV Energy GP).