Evolution Petroleum (NYSEAMERICAN:EPM) Shares Pass Below 50-Day Moving Average – Time to Sell?

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.49 and traded as low as $4.33. Evolution Petroleum shares last traded at $4.34, with a volume of 332,552 shares traded.

Wall Street Analysts Forecast Growth

EPM has been the subject of a number of analyst reports. Freedom Capital downgraded shares of Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Northland Securities set a $4.50 price target on Evolution Petroleum in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.93.

Evolution Petroleum Stock Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market capitalization of $149.22 million, a PE ratio of -37.82 and a beta of 0.24. The stock has a 50 day moving average of $4.48 and a two-hundred day moving average of $4.20.

Evolution Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.48 dividend on an annualized basis and a yield of 11.5%. Evolution Petroleum’s dividend payout ratio (DPR) is 600.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EPM. Comerica Bank increased its holdings in Evolution Petroleum by 894.0% in the third quarter. Comerica Bank now owns 6,908 shares of the energy company’s stock valued at $33,000 after buying an additional 6,213 shares in the last quarter. StoneX Group Inc. purchased a new position in Evolution Petroleum in the fourth quarter valued at about $36,000. Inscription Capital LLC purchased a new position in Evolution Petroleum in the fourth quarter valued at about $38,000. BNP Paribas Financial Markets boosted its position in shares of Evolution Petroleum by 163.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,194 shares of the energy company’s stock worth $39,000 after buying an additional 5,083 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Evolution Petroleum by 20.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 13,836 shares of the energy company’s stock worth $49,000 after buying an additional 2,340 shares in the last quarter. 60.07% of the stock is owned by hedge funds and other institutional investors.

About Evolution Petroleum

Evolution Petroleum Corporation (NYSE American: EPM) is an independent oil and natural gas company focused on enhanced oil recovery (EOR) through the use of carbon dioxide. Headquartered in Houston, Texas, the company specializes in acquiring and developing mature hydrocarbon reservoirs that benefit from CO? injection to increase production efficiency. Evolution Petroleum’s business model combines property acquisition, reservoir engineering, and CO? management to optimize recovery of oil and associated gas.

The company’s primary asset is the Jackson Dome CO? field in southwestern Mississippi, where natural carbon dioxide is produced, separated and reinjected into adjacent oil-bearing formations.