Evolution Petroleum (NYSEAMERICAN:EPM) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a hold rating to a buy rating in a report published on Tuesday, Marketbeat reports. Freedom Broker currently has $4.50 target price on the energy company’s stock.

Several other research firms have also commented on EPM. Zacks Research raised shares of Evolution Petroleum from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Northland Securities set a $4.25 target price on shares of Evolution Petroleum in a research note on Thursday, September 17th. Finally, Alliance Global Partners restated a “buy” rating on shares of Evolution Petroleum in a report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Evolution Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.76.

Evolution Petroleum Trading Up 0.8%

Shares of NYSEAMERICAN EPM opened at $3.63 on Tuesday. Evolution Petroleum has a 1-year low of $3.19 and a 1-year high of $5.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50 day moving average is $3.68 and its two-hundred day moving average is $4.09. The stock has a market capitalization of $145.82 million, a P/E ratio of -45.38 and a beta of 0.25.

Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings data on Tuesday, September 15th. The energy company reported ($0.02) earnings per share (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 the consensus estimate of $23.23 million. Evolution Petroleum had a negative net margin of 2.81% and a negative return on equity of 5.41%. As a group, research analysts expect that Evolution Petroleum will post 0.05 EPS for the current year.

Evolution Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 13.2%. The ex-dividend date is Monday, September 21st. Evolution Petroleum’s dividend payout ratio (DPR) is 600.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. WealthTrust Axiom LLC lifted its holdings in Evolution Petroleum by 9.4% during the 4th quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock valued at $6,898,000 after buying an additional 166,624 shares in the last quarter. BlackRock Inc. purchased a new stake in Evolution Petroleum in the 2nd quarter valued at about $8,894,000. Chancellor Financial Group WB LP bought a new position in Evolution Petroleum in the 2nd quarter worth about $54,000. Equitable Holdings Inc. bought a new position in Evolution Petroleum in the 2nd quarter worth about $37,000. Finally, Bank of America Corp DE purchased a new position in shares of Evolution Petroleum during the second quarter worth approximately $235,000. 60.07% of the stock is currently owned by institutional investors.

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.