EV Energy Partners L.P. (EVEP) Climbs 4.44% Gain on October 18 to Lead Basic Materials Sector

EV Energy Partners L.P. (EVEP) was one of the best performers amongst all companies listed in the basic materials sector on the NYSE and NASDAQ exchanges during trading on October 18, climbing 4.44% to wrap the day at $2.35 after closing the day prior at $2.25. Throughout the trading session, shares of EVEP rose as high as $2.39 and dipped as low as $2.22. Today’s advance came with about 339,245 shares changing hands, compared to an average 30-day volume of 187,352 for EV Energy Partners L.P.. The price is currently below the 30-day volume weighted average price of $2.35 for EVEP.

The share appreciation today gives the company a market capitalization of $110.37 million based upon 49.06 million shares outstanding. It also means that EVEP has a price-to-book ratio of 0.12:1.

In the past 52 weeks, shares of EVEP have traded as low as $1.6 and as high as $7.1093. Technical traders will take note that at $2.35, shares of EVEP are trading above their 200-day MA at $2.32 and above their 50-day MA at $2.35. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is EVEP?

EV Energy Partners LP is engaged in the acquisition, development and production of oil and natural gas properties and all of its operations are located in the United States. The company’s 1200 employees are led by CEO Michael E. Mercer from the corporate headquarters at 1001 Fannin Street in Houston, TX.

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