JPMorgan Chase & Co. reduced its position in shares of Evolution Petroleum Corp (NYSE:EPM) by 20.2% during the first quarter, Holdings Channel reports. The firm owned 32,995 shares of the energy company’s stock after selling 8,358 shares during the period. JPMorgan Chase & Co.’s holdings in Evolution Petroleum Corp were worth $264,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in 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 during the period. Bank of Montreal Can increased its position in 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 during the period. Metropolitan Life Insurance Co. NY bought a new position in Evolution Petroleum Corp during the fourth quarter worth approximately $177,000. Sawgrass Asset Management LLC bought a new position in Evolution Petroleum Corp during the first quarter worth approximately $218,000. Finally, Oxford Asset Management bought a new position in Evolution Petroleum Corp during the first quarter worth approximately $606,000.
Evolution Petroleum Corp (NYSE EPM) opened at 7.85 on Friday. The firm has a market cap of $256.44 million and a P/E ratio of 9.97. Evolution Petroleum Corp has a 52 week low of $5.12 and a 52 week high of $10.20. The firm’s 50-day moving average price is $7.97 and its 200 day moving average price is $8.09.
Evolution Petroleum Corp (NYSE:EPM) last released its quarterly 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. Evolution Petroleum Corp had a net margin of 25.40% and a return on equity of 14.11%. The business had revenue of $9.53 million during the quarter, compared to analysts’ expectations of $9.65 million. Equities analysts forecast that Evolution Petroleum Corp will post $0.27 earnings per share for the current fiscal year.
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A number of research analysts recently commented on EPM shares. Scotiabank set a $10.00 price target on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Saturday, July 22nd. BidaskClub raised Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Roth Capital set a $11.00 price target on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, Zacks Investment Research downgraded Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.00.
About Evolution Petroleum Corp
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.
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