Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Chairman John Walker Just Bet $5 Million on EV Energy Partners

John Walker, EV Energy: Earlier this week, two insiders at EV Energy Partners, L.P. (NASDAQ:EVEP) filed Statements of Changes in Beneficial Ownership at the U.S. Securities and Exchange Commission. Last Friday, Oct. 18th, B John Walker, Chairman of the Board, purchased 135,000 company shares at a price of $36.86 each. After a transaction that totaled $4,976,100, Walker holds 1,743,498 shares indirectly*and 203,542 shares, directly. His total holdings are valued at $73.5 million.

EV Energy Partners

Last Friday, as well, A Mark Houser, President and CEO, acquired 15,000 shares at the same price as Walker. After the reported transaction, Houser owns (between directly and indirectly owned stock) $29.6 million in shares.

I should highlight that both purchases occurred within the context of a public offering of 5,000,000 common units at $36.86 each. The company intends to use the proceeds from the offering, closed today, to repay borrowings outstanding under its senior secured credit facility.

Trading at $37.79, the stock price is quite close to its 52-week low. While some analysis firms like Raymond James cut its target price from $50 to $47, Walker and Houser seem to be betting strong on EV Energy Partners.

Although the company’s outlook is a matter of disagreement amongst analysts and investors, there is one thing that makes this stock particularly attractive: its dividends. Yielding about 8.2% of its current stock price in the form of dividends, this is a great company to add to your income portfolio.

* 1,733,098 shares are held by John B. and Lisa A. Walker, L.P., of which Mr. Walker is a general partner along with his wife. Mr. Walker disclaims beneficial ownership of the units not owned by him directly. An extra 10,400 shares are held by his spouse.

Disclosure: Javier Hasse holds no position in any stocks mentioned

Recommended Reading:

Make Insider Trading Work For You — Without Going To Jail

9 Insider Purchases That Shareholders Should Know About

Verastem’s Richard Aldrich Made a Buy Earlier This Week at $12.57/Share

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!