Zacks Investment Research upgraded shares of Evolution Petroleum Corp (NYSEAMERICAN:EPM) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Natural Gas Systems, Inc. is a development stage company formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production and develop incremental reserves, particularly in low permeability reservoirs amenable to lateral drilling technology. “
Several other analysts have also commented on the stock. Roth Capital set a $11.00 price objective on shares of Evolution Petroleum Corp and gave the stock a buy rating in a report on Friday, October 20th. Northland Securities set a $8.00 target price on shares of Evolution Petroleum Corp and gave the company a hold rating in a report on Monday, August 28th. BidaskClub lowered shares of Evolution Petroleum Corp from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Scotiabank set a $10.00 target price on shares of Evolution Petroleum Corp and gave the company a buy rating in a report on Saturday, July 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $9.67.
Shares of Evolution Petroleum Corp (NYSEAMERICAN:EPM) traded down $0.50 on Wednesday, reaching $6.80. 73,100 shares of the company’s stock traded hands, compared to its average volume of 107,929. Evolution Petroleum Corp has a twelve month low of $6.35 and a twelve month high of $10.20.
Evolution Petroleum Corp (NYSEAMERICAN:EPM) last issued its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Evolution Petroleum Corp had a net margin of 16.99% and a return on equity of 8.76%. The business had revenue of $8.54 million during the quarter, compared to analyst estimates of $8.19 million. During the same period last year, the business posted $0.02 earnings per share. Evolution Petroleum Corp’s quarterly revenue was up 12.5% compared to the same quarter last year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.30 annualized dividend and a dividend yield of 4.41%. Evolution Petroleum Corp’s payout ratio is 80.00%.
In other news, CFO David Joe sold 7,110 shares of Evolution Petroleum Corp stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $7.50, for a total transaction of $53,325.00. Following the completion of the transaction, the chief financial officer now directly owns 365,427 shares in the company, valued at $2,740,702.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH raised its holdings in Evolution Petroleum Corp by 26.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 395,826 shares of the energy company’s stock worth $2,850,000 after acquiring an additional 82,213 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Evolution Petroleum Corp by 20.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 627,699 shares of the energy company’s stock worth $4,519,000 after acquiring an additional 106,018 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Evolution Petroleum Corp by 53.8% in the 3rd quarter. Wells Fargo & Company MN now owns 32,313 shares of the energy company’s stock worth $233,000 after acquiring an additional 11,307 shares during the last quarter. Amica Pension Fund Board of Trustees raised its holdings in Evolution Petroleum Corp by 114.8% in the 3rd quarter. Amica Pension Fund Board of Trustees now owns 227,080 shares of the energy company’s stock worth $1,635,000 after acquiring an additional 121,385 shares during the last quarter. Finally, Amica Mutual Insurance Co. raised its holdings in Evolution Petroleum Corp by 114.0% in the 3rd quarter. Amica Mutual Insurance Co. now owns 308,057 shares of the energy company’s stock worth $2,218,000 after acquiring an additional 164,097 shares during the last quarter.
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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