Zacks Investment Research cut shares of Evolution Petroleum Corp (NYSE:EPM) from a hold rating to a sell rating in a research report released on Monday.
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 brokerages have also recently issued reports on EPM. Roth Capital set a $11.00 target price on shares of Evolution Petroleum Corp and gave the stock a buy rating in a report on Monday, May 22nd. Scotiabank set a $10.00 target price on shares of Evolution Petroleum Corp and gave the stock a buy rating in a report on Saturday, July 22nd. BidaskClub cut shares of Evolution Petroleum Corp from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Northland Securities set a $8.00 target price on shares of Evolution Petroleum Corp and gave the stock a hold rating in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $9.60.
Shares of Evolution Petroleum Corp (NYSE:EPM) traded up 0.74% during midday trading on Monday, reaching $6.85. 2,862 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $7.63 and a 200-day moving average of $7.86. Evolution Petroleum Corp has a 12-month low of $5.79 and a 12-month high of $10.20. The stock has a market capitalization of $223.78 million and a P/E ratio of 8.70.
Evolution Petroleum Corp (NYSE:EPM) last issued its earnings results on Wednesday, September 6th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.02. The firm had revenue of $8.84 million during the quarter, compared to analysts’ expectations of $9.52 million. Evolution Petroleum Corp had a return on equity of 14.11% and a net margin of 25.40%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Analysts anticipate that Evolution Petroleum Corp will post $0.33 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.075 dividend. The ex-dividend date is Thursday, September 14th. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.41%.
Hedge funds have recently made changes to their positions in the company. Virtu KCG Holdings LLC bought a new stake in shares of Evolution Petroleum Corp in the second quarter worth approximately $101,000. First Quadrant L P CA bought a new stake in shares of Evolution Petroleum Corp in the second quarter worth approximately $112,000. American International Group Inc. grew its stake in shares of Evolution Petroleum Corp by 7.1% in the first quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock worth $120,000 after acquiring an additional 999 shares during the period. Nationwide Fund Advisors grew its stake in shares of Evolution Petroleum Corp by 14.2% in the first quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock worth $127,000 after acquiring an additional 1,979 shares during the period. Finally, Alliancebernstein L.P. bought a new stake in shares of Evolution Petroleum Corp in the second quarter worth approximately $133,000.
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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