E V E n e r g y P a r t n e r L P E V E P

Morningstar Stock Data Sheet Pricing data thru Jun. 30, 2011 Rating updated as of Jun. 30, 2011 Pricing data thru Jun. 30, 2011 Rating updated as of Jun. 30, 2011 Fiscal year-end: December
EV Energy Partner LP EVEP
Sales USD Mil Mkt Cap USD Mil Industry Sector
192 1,823 Oil
& Gas E&P
Energy
TM
Morningstar Rating Last Price Fair Value Uncertainty Economic Moat Stewardship Grade
53.34 . . . .
per share prices in USD
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 YTD
2.0
5.0
19.0
39.0
65.0
205.0
24.50
18.51
44.13
21.25
34.45
8.78
31.70
12.50
40.24
21.24
59.95
39.20
Annual Price High
Low
Recent Splits
Price Volatility
Monthly High/Low
Rel Strength to S&P 500
52 week High/Low
59.95 - 30.01
10 Year High/Low
59.95 - 8.78
Bear-Market Rank
0 (10=worst)
Trading Volume Thousand
Stock Performance
EV Energy Partners LP is the limited partnership created by
EnerVest Management in 2006. It acquires and produces oil
and natural gas from properties in Texas, Louisiana,
Michigan, and the Appalachian Basin. It currently produces
more than 65 million cubic feet of natural gas equivalent per
day, composed of about 68% natural gas. Its reserves stood
at about 359 bcfe at year-end, weighted about 74% to
natural gas.
1001 Fannin Street Suite 800
Houston, TX 77002
Phone: 1 713 659-3500Website: http://www.evenergypartners.com
Growth Rates Compound Annual
Grade: B 1 Yr 3 Yr 5 Yr 10 Yr
Revenue % 40.7 19.4 31.2 .
Operating Income % . 21.2 25.9 .
Earnings/Share % . 65.3 . .
Dividends % 0.5 16.4 . .
Book Value/Share % . . . .
Stock Total Return % 80.7 29.0 . .
+/- Industry 42.5 30.8 . .
+/- Market 52.6 27.9 . .
Profitability Analysis
Grade: Current 5 Yr Avg Ind Mkt
Return on Equity % . . 10.8 23.2
Return on Assets % 2.0 8.4 5.3 8.8
Fixed Asset Turns 0.2 0.2 0.4 7.3
Inventory Turns . . 6.4 14.7
Revenue/Employee USD K 274.8 291.4 . 951.5
Gross Margin % 62.4 65.7 68.6 39.5
Operating Margin % 35.1 27.9 30.8 15.4
Net Margin % 13.5 42.8 17.2 10.4
Free Cash Flow/Rev % . . -9.9 0.1
R&D/Rev % . . . 9.8
*
*3Yr Avg data is displayed in place of 5Yr Avg
Financial Position
Grade: C 12-10 USD Mil 03-11 USD Mil
Cash 23 29
Inventories . .
Receivables 28 40
Current Assets 108 111
Fixed Assets 1326 1320
Intangibles . .
Total Assets 1487 1463
Payables . .
Short-Term Debt . .
Current Liabilities 23 28
Long-Term Debt 619 480
Total Liabilities 713 595
Total Equity . .
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 TTM Financials
Revenue USD Mil 4 3 14 30 44 8 101 206 122 172 192
Gross Margin % 100.0 100.0 78.4 90.0 87.2 66.1 68.9 74.5 57.4 61.5 62.4
Oper Income USD Mil . 0 3 12 20 2 36 92 -3 64 67
Operating Margin % . 14.7 20.1 39.1 45.9 23.5 35.7 44.9 -2.2 37.4 35.1
Net Income USD Mil 0 0 0 8 15 3 11 225 -6 94 26
Earnings Per Share USD . . . 0.00 . 0.43 0.74 11.14 -0.29 3.34 0.87
Dividends USD . . . . . . 1.92 2.67 3.01 3.03 3.03
Shares Mil . . . . . 8 13 15 19 28 30
Book Value Per Share USD . . . . . 21.41 23.91 . . . .
Oper Cash Flow USD Mil . . . 17 28 3 56 104 110 122 135
Cap Spending USD Mil . . . -6 -17 -71 -467 -210 -54 -595 -468
Free Cash Flow USD Mil . . . 11 11 -68 -411 -106 56 -473 -333
Valuation Analysis
Current 5 Yr Avg Ind Mkt
Price/Earnings 61.0 . 29.7 15.4
Forward P/E 17.4 . . 13.5
Price/Cash Flow 11.7 12.2 8.1 8.8
Price/Free Cash Flow . . . 18.0
Dividend Yield % 5.7 . 1.5 1.8
Price/Book . . 2.3 2.1
Price/Sales 8.2 6.0 3.9 1.3
PEG Ratio 3.5 . . 1.6
Total Return % . . . . . . 46.8 -46.6 126.6 39.9 39.8
+/- Market . . . . . . 43.3 -8.1 103.2 27.1 34.8
+/- Industry . . . . . . 4.2 -8.6 74.3 11.9 37.2
Dividend Yield % . . . . . . 5.9 18.2 10.0 7.7 5.7
Market Cap USD Mil . . . . . 105 385 191 710 1198 1823
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 TTM Profitability
Return on Assets % 19.3 14.2 0.0 14.5 22.0 3.2 3.0 28.4 -0.6 7.9 2.0
Return on Equity % . . 0.0 . . 3.5 5.9 60.9 . . .
Net Margin % 9.4 10.2 0.0 28.2 34.1 43.1 11.1 109.6 -4.6 54.9 13.5
Asset Turnover 2.05 1.40 0.46 0.52 0.65 0.07 0.27 0.26 0.13 0.14 0.15
Financial Leverage . . 1.6 . . 1.4 2.1 2.1 . . 2.1
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 03-11 Financial Health
Working Capital USD Mil -1 . . 3 -1 12 16 95 53 85 82
Long-Term Debt USD Mil 3 3 3 3 11 28 270 467 302 619 480
Total Equity USD Mil -3 -1 35 . . 96 283 457 . . .
Debt/Equity . . . 0.07 0.26 0.29 0.95 1.02 0.55 0.80 0.55
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 TTM Valuation
Price/Earnings . . . . . 54.6 43.9 1.3 . 11.8 61.0
P/E vs. Market . . . . . . . . . 0.7 4.0
Price/Sales . . . . . 13.5 4.2 1.1 4.8 6.4 8.2
Price/Book . . . . . 1.1 1.4 . . . .
Price/Cash Flow . . . . . 36.8 7.5 2.2 5.3 9.0 11.7
Quarterly Results
Revenue
Rev Growth
Earnings Per Share
USD Mil Jun 10 Sep 10 Dec 10 Mar 11
% Jun 10 Sep 10 Dec 10 Mar 11
USD Jun 10 Sep 10 Dec 10 Mar 11
Most Recent Period 40.9 42.0 48.4 61.0
Prior Year Period 27.0 29.6 36.1 40.2
Most Recent Period 51.6 42.2 33.9 51.9
Prior Year Period -55.8 -48.5 -8.5 37.4
Most Recent Period 0.50 1.87 -0.47 -1.14
Prior Year Period -1.93 -0.23 -0.22 1.68
Industry Peers by Market Cap
Major Fund Holders
Mkt Cap USD Mil Rev USD Mil P/E ROE%
% of shares
EV Energy Partner LP 1823 192 61.0 .
Linn Energy LLC 6904 399 . -21.9
Legacy Reserves, LP 1295 239 . .
.
.
.
TTM data based on rolling quarterly data if available; otherwise most recent annual data shown.
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