Down 90% in three years, biggest day in market in 4 years and this KIng of The POSs is up a GIGANTIC 2 cents. Once again, thanks go to Walker and the rest of his crack (mis) management team!
Management has destroyed this company. But they own a lot of stock so keeping dividend high means they can personally take more cash out of company
Fair enough- but EVEP is still a major POS! My only regret is not selling all of my position (rather than just most of it) last year.
Wouldn't you expect short covering by those shorting this stock to avoid having to pay dividend or does someone know something (mis) management hasn't revealed yet?
Don't you get it! Management owns a lot of stock. 50 cents/ share to them adds up to a lot of money. This (mis) management team has consistently done nothing for the benefit of shareholders (other than themselves)
I continue to be amazed by the never ending posts about the favorable outlook for EVEP by certain regular posters on this site. Some of these people have been with this POS from the 40s and 50s (and perhaps even higher) and still think that the outlook for this POS is still promising even though the stock now trades in the single digits. I have owned a position in this POS for many years. I sold almost all of it last year at prices way higher than current price but way lower than the highs of several years ago. But I unfortunately retained about 15% of my original position, thinking that things couldn't get worse. But I was wrong, and it is not solely the drop of oil prices that is to blame but also the (mis) management team of EVEP which screwed up sales of assets several years ago that they virtually promised repeatedly would happen at a time when oil prices were much higher than current prices because they got greedy and tried to hold on for even higher prices which has led to a massive destruction of shareholder value
If EVEP's (mis) management team can screw it up , they will do so. They have shown ample evidence of that in the last several years
this stock has been in a major downward spiral for at least 2 years ever since its "crack" (mis) management team failed to close on material asset sales they assured us would be completed. And all of this was BEFORE collapse of oil prices. Management is terrible but since Enervest controls EVEP there is no way for shareholders to try to replace them. Sold most of my position in the 20s last year (which amazingly was still a profit since I bought most units years ago) but price was way down from highs. Held on to a small position which has only crumbled in value