Stone Ridge Asset Management LLC Takes Position in Evolution Petroleum Co., Inc. (EPM)

Stone Ridge Asset Management LLC acquired a new position in shares of Evolution Petroleum Co., Inc. (NYSEAMERICAN:EPM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,790 shares of the energy company’s stock, valued at approximately $170,000. Stone Ridge Asset Management LLC owned about 0.07% of Evolution Petroleum as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in Evolution Petroleum by 16.9% in the 2nd quarter. State Street Corp now owns 437,746 shares of the energy company’s stock valued at $3,548,000 after acquiring an additional 63,208 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Evolution Petroleum by 21.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,975 shares of the energy company’s stock valued at $194,000 after acquiring an additional 4,215 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Evolution Petroleum by 53.8% in the 3rd quarter. Wells Fargo & Company MN now owns 32,313 shares of the energy company’s stock valued at $233,000 after acquiring an additional 11,307 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Evolution Petroleum by 20.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 627,699 shares of the energy company’s stock valued at $4,519,000 after acquiring an additional 106,018 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Evolution Petroleum by 26.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 395,826 shares of the energy company’s stock valued at $2,850,000 after acquiring an additional 82,213 shares in the last quarter.

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NYSEAMERICAN EPM opened at $7.90 on Friday. Evolution Petroleum Co., Inc. has a one year low of $6.35 and a one year high of $8.70.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results on Wednesday, February 7th. The energy company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $11.07 million for the quarter, compared to analyst estimates of $10.66 million. Evolution Petroleum had a return on equity of 21.51% and a net margin of 35.03%.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a dividend of $0.10 per share. This is an increase from Evolution Petroleum’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.40 annualized dividend and a yield of 5.06%.

Several research firms have commented on EPM. Zacks Investment Research raised Evolution Petroleum from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Thursday, February 15th. UBS upgraded Evolution Petroleum from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Eurobank EFG upgraded Evolution Petroleum from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, February 8th. Finally, Northland Securities set a $7.00 price objective on Evolution Petroleum and gave the company a “hold” rating in a research note on Monday, December 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Evolution Petroleum has a consensus rating of “Buy” and a consensus price target of $9.54.

In other Evolution Petroleum news, CFO David Joe sold 16,666 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $8.16, for a total transaction of $135,994.56. Following the transaction, the chief financial officer now owns 345,924 shares of the company’s stock, valued at approximately $2,822,739.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Advisors L.L.C. Jvl sold 25,383 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $8.00, for a total value of $203,064.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,238 shares of company stock worth $2,252,989.

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About Evolution Petroleum

Evolution Petroleum Corporation, an independent oil and gas company, engages in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The company's principal assets include interests in a CO2 enhanced oil recovery project and the natural gas liquids recovery plant in the Delhi field Louisiana.

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Institutional Ownership by Quarter for Evolution Petroleum (NYSEAMERICAN:EPM)

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