Evolution Petroleum (NYSEAMERICAN:EPM) Raised to “Buy” at Freedom Broker

Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by Freedom Broker from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a $4.50 price objective on the energy company’s stock. Freedom Broker’s target price points to a potential upside of 30.43% from the company’s previous close.

EPM has been the subject of several other reports. Zacks Research raised Evolution Petroleum from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Alliance Global Partners reissued a “buy” rating on shares of Evolution Petroleum in a report on Tuesday, August 25th. Finally, Northland Securities set a $4.25 price target on Evolution Petroleum in a report on Thursday, September 17th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.76.

Evolution Petroleum Stock Down 2.0%

Evolution Petroleum stock traded down $0.07 during mid-day trading on Tuesday, hitting $3.45. The company had a trading volume of 391,918 shares, compared to its average volume of 564,970. Evolution Petroleum has a 1 year low of $3.19 and a 1 year high of $5.03. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day moving average of $3.67 and a 200 day moving average of $4.07.

Evolution Petroleum (NYSEAMERICAN:EPM) last announced its quarterly earnings results on Tuesday, September 15th. The energy company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.03). The company had revenue of $24.21 million during the quarter, compared to analysts’ expectations of $23.24 million. Evolution Petroleum had a negative net margin of 2.81% and a negative return on equity of 5.41%. As a group, sell-side analysts predict that Evolution Petroleum will post 0.05 EPS for the current year.

Institutional Investors Weigh In On Evolution Petroleum

Several hedge funds have recently modified their holdings of EPM. Wellington Management Group LLP lifted its holdings in shares of Evolution Petroleum by 19.6% during the second quarter. Wellington Management Group LLP now owns 19,783 shares of the energy company’s stock worth $73,000 after purchasing an additional 3,236 shares during the period. Equitable Holdings Inc. acquired a new stake in shares of Evolution Petroleum during the second quarter worth $37,000. Bank of America Corp DE acquired a new stake in shares of Evolution Petroleum during the second quarter worth $235,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Evolution Petroleum during the second quarter worth $198,000. Finally, Ieq Capital LLC acquired a new stake in Evolution Petroleum in the second quarter valued at $85,000. 60.07% of the stock is owned by institutional investors and hedge funds.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation is an independent energy company engaged in the acquisition, development, and operation of oil and natural gas properties. The company focuses primarily on mature, long-life assets in the United States, with an emphasis on properties that can benefit from enhanced oil recovery, operational improvements, and additional development.

Evolution Petroleum’s flagship asset is its interest in the Delhi Field in northeastern Louisiana, where carbon dioxide is used in a miscible flood program to increase oil recovery from an established reservoir.