Wells Fargo & Company MN Sells 40 Shares of Evolution Petroleum Corp (NYSE:EPM)

Wells Fargo & Company MN cut its position in Evolution Petroleum Corp (NYSE:EPM) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,006 shares of the energy company’s stock after selling 40 shares during the period. Wells Fargo & Company MN owned about 0.06% of Evolution Petroleum Corp worth $168,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors increased its position in shares of Evolution Petroleum Corp by 14.2% in the first quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock worth $127,000 after buying an additional 1,979 shares in the last quarter. Bank of Montreal Can increased its position in shares of Evolution Petroleum Corp by 559.3% in the first quarter. Bank of Montreal Can now owns 18,420 shares of the energy company’s stock worth $147,000 after buying an additional 15,626 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Evolution Petroleum Corp during the fourth quarter worth approximately $177,000. Sawgrass Asset Management LLC purchased a new position in shares of Evolution Petroleum Corp during the first quarter worth approximately $218,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Evolution Petroleum Corp during the fourth quarter worth approximately $1,751,000.

Evolution Petroleum Corp (NYSE:EPM) opened at 7.95 on Monday. Evolution Petroleum Corp has a 12-month low of $5.12 and a 12-month high of $10.20. The firm has a market cap of $259.71 million and a P/E ratio of 10.10. The stock’s 50 day moving average is $7.83 and its 200 day moving average is $8.16.

Evolution Petroleum Corp (NYSE:EPM) last posted its earnings results on Monday, May 8th. The energy company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.01. The business had revenue of $9.53 million for the quarter, compared to analysts’ expectations of $9.65 million. Evolution Petroleum Corp had a return on equity of 14.11% and a net margin of 25.40%. On average, equities research analysts expect that Evolution Petroleum Corp will post $0.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Tuesday, June 13th.

EPM has been the subject of a number of recent research reports. Scotiabank set a $10.00 target price on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a report on Saturday. BidaskClub upgraded shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Roth Capital set a $11.00 price objective on shares of Evolution Petroleum Corp and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, Zacks Investment Research downgraded shares of Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.00.

Evolution Petroleum Corp Company Profile

Evolution Petroleum Corporation is an independent oil and gas company. The Company is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.