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

Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by stock analysts at Freedom Broker from a “hold” rating to a “buy” rating in a report released on Tuesday, September 22nd, MarketBeat Ratings reports. The brokerage presently has a $4.50 price target on the energy company’s stock. Freedom Broker’s price objective points to a potential upside of 28.94% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Northland Securities set a $4.25 price objective on Evolution Petroleum in a report on Thursday, September 17th. Zacks Research raised Evolution Petroleum from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Finally, Alliance Global Partners reaffirmed 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.76.

Evolution Petroleum Stock Up 1.2%

Shares of EPM traded up $0.04 during mid-day trading on Tuesday, reaching $3.49. The company’s stock had a trading volume of 314,601 shares, compared to its average volume of 438,048. Evolution Petroleum has a 12-month low of $3.19 and a 12-month high of $5.03. The stock has a market cap of $140.19 million, a PE ratio of -43.63 and a beta of 0.25. 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 company’s 50 day moving average is $3.67 and its 200 day moving average is $4.07.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings data on Tuesday, September 15th. The energy company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Evolution Petroleum had a negative net margin of 2.81% and a negative return on equity of 5.41%. The business had revenue of $24.21 million during the quarter, compared to analysts’ expectations of $23.24 million. Equities analysts anticipate that Evolution Petroleum will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolution Petroleum

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Evolution Petroleum by 19.6% in the 2nd quarter. Wellington Management Group LLP now owns 19,783 shares of the energy company’s stock valued at $73,000 after purchasing an additional 3,236 shares in the last quarter. Bank of America Corp DE boosted its holdings in Evolution Petroleum by 11.2% in the 1st quarter. Bank of America Corp DE now owns 71,098 shares of the energy company’s stock valued at $326,000 after purchasing an additional 7,158 shares in the last quarter. Equitable Holdings Inc. purchased a new stake in Evolution Petroleum in the 2nd quarter valued at approximately $37,000. Kathmere Capital Management LLC purchased a new stake in Evolution Petroleum in the 1st quarter valued at approximately $51,000. Finally, Chancellor Financial Group WB LP purchased a new stake in Evolution Petroleum in the 2nd quarter valued at approximately $54,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About Evolution Petroleum

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.