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TheStreet Open House

5 Stocks Insiders Love Right Now

EV Energy Partner LP

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One energy player that insiders are jumping into big here is EV Energy Partner LP (EVEP), which is engaged in the development and production of oil and natural gas properties. Insiders are buying this stock into big weakness, since shares are down by 33% so far in 2013.

>>5 Hated Earnings Stocks You Should Love

EV Energy Partner LP has a market cap of $1.6 billion and an enterprise value of $2.5 billion. This stock trades at a cheap valuation, with a forward price-to-earnings of 25.67. Its estimated growth rate for this year is 155.3%, and for next year it's pegged at 595.2%. This is not a cash-rich company, since the total cash position on its balance sheet is $8.28 million and its total debt is $1.02 billion. This stock currently sports a dividend yield of 8.4%.

The chairman of the board just bought 135,000 shares, or about $4.97 million worth of stock, at $36.86 per share. The CEO also just bought 15,000 shares, or about $552,000 worth of stock, at $36.86 per share.

From a technical perspective, EVEP is currently trending above its 50-day moving average and well below its 200-day moving average, which is neutral trendwise. This stock has been trending sideways and consolidating over the last two months and change, with shares moving between $34.01 on the downside and $39.74 on the upside. Shares of EVEP have just started to trend back above its 50-day moving average, and it's quickly moving within range of triggering a breakout trade above the upper-end of its sideways chart pattern.

If you're bullish on EVEP, then look for long-biased trades as long as this stock is trending above some key near-term support levels at $36.55 or at $35.60 and then once it breaks out above some near-term overhead resistance levels at $38.94 to $39.74 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 254,366 shares. If that breakout triggers soon, then EVEP will set up to re-test or possibly take out its next major overhead resistance levels at $42 to $42.50, or even its 200-day moving average of $43.29 a share.

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