Evolution Petroleum Corp (NYSE:EPM) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 633,528 shares, a growth of 3.0% from the July 31st total of 615,273 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 58,230 shares, the short-interest ratio is currently 10.9 days.
Large investors have recently made changes to their positions in the company. Virtu KCG Holdings LLC purchased a new stake in shares of Evolution Petroleum Corp during the second quarter valued at approximately $101,000. First Quadrant L P CA purchased a new stake in shares of Evolution Petroleum Corp during the second quarter valued at approximately $112,000. American International Group Inc. raised its stake in shares of Evolution Petroleum Corp by 7.1% in the first quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock valued at $120,000 after buying an additional 999 shares in the last quarter. Nationwide Fund Advisors raised its stake 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 valued at $127,000 after buying an additional 1,979 shares in the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in shares of Evolution Petroleum Corp during the second quarter valued at approximately $133,000.
Evolution Petroleum Corp (NYSE EPM) opened at 7.35 on Friday. The firm’s 50-day moving average is $7.97 and its 200 day moving average is $7.96. The stock has a market capitalization of $240.11 million and a price-to-earnings ratio of 9.34. Evolution Petroleum Corp has a 1-year low of $5.59 and a 1-year high of $10.20.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 4.08%.
EPM has been the topic of several research reports. BidaskClub upgraded shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research cut shares of Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Roth Capital set a $11.00 price target on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a research report on Monday, May 22nd. Finally, Scotiabank set a $10.00 price target on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Evolution Petroleum Corp currently has an average rating of “Buy” and an average price target of $10.00.
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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.
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