Zacks Investment Research upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.
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. “
Shares of EPM opened at $5.71 on Tuesday. Evolution Petroleum has a 1 year low of $5.53 and a 1 year high of $12.83.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Evolution Petroleum by 6.1% during the 2nd quarter. BlackRock Inc. now owns 3,512,065 shares of the energy company’s stock valued at $25,111,000 after purchasing an additional 203,444 shares during the period. Renaissance Technologies LLC grew its position in Evolution Petroleum by 5.8% during the second quarter. Renaissance Technologies LLC now owns 2,211,488 shares of the energy company’s stock worth $15,812,000 after buying an additional 121,000 shares in the last quarter. Vanguard Group Inc. grew its position in Evolution Petroleum by 0.4% during the second quarter. Vanguard Group Inc. now owns 1,541,259 shares of the energy company’s stock worth $11,020,000 after buying an additional 6,544 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Evolution Petroleum by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,142,562 shares of the energy company’s stock worth $7,793,000 after buying an additional 71,861 shares in the last quarter. Finally, Keeley Teton Advisors LLC grew its position in Evolution Petroleum by 304.0% during the second quarter. Keeley Teton Advisors LLC now owns 743,995 shares of the energy company’s stock worth $5,320,000 after buying an additional 559,843 shares in the last quarter.
About Evolution Petroleum
Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.
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