Zacks Investment Research downgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a buy rating to a hold rating in a report released on Tuesday, January 9th.
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 research analysts have also commented on EPM. Northland Securities set a $7.00 price target on Evolution Petroleum and gave the stock a hold rating in a research report on Monday, December 11th. Roth Capital set a $11.00 price target on Evolution Petroleum and gave the stock a buy rating in a research report on Friday, October 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $8.94.
Shares of Evolution Petroleum (NYSEAMERICAN EPM) traded down $0.05 during trading hours on Tuesday, reaching $7.20. The company’s stock had a trading volume of 139,000 shares, compared to its average volume of 91,260. The stock has a market cap of $239.72, a PE ratio of 28.80 and a beta of 0.81. Evolution Petroleum has a 12 month low of $6.35 and a 12 month high of $9.80.
Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $8.54 million during the quarter, compared to analysts’ expectations of $8.19 million. Evolution Petroleum had a return on equity of 12.54% and a net margin of 25.07%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.30 annualized dividend and a yield of 4.17%. Evolution Petroleum’s dividend payout ratio is presently 120.00%.
In other news, CFO David Joe sold 7,110 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $7.50, for a total value of $53,325.00. Following the completion of the transaction, the chief financial officer now directly owns 365,427 shares of the company’s stock, valued at $2,740,702.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Institutional investors have recently added to or reduced their stakes in the stock. AJO LP purchased a new stake in shares of Evolution Petroleum in the second quarter worth about $2,158,000. Amica Mutual Insurance Co. boosted its position in shares of Evolution Petroleum by 114.0% in the third quarter. Amica Mutual Insurance Co. now owns 308,057 shares of the energy company’s stock worth $2,218,000 after buying an additional 164,097 shares during the period. Amica Pension Fund Board of Trustees boosted its position in shares of Evolution Petroleum by 114.8% in the third quarter. Amica Pension Fund Board of Trustees now owns 227,080 shares of the energy company’s stock worth $1,635,000 after buying an additional 121,385 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Evolution Petroleum by 29.0% in the second quarter. Dimensional Fund Advisors LP now owns 521,681 shares of the energy company’s stock worth $4,226,000 after buying an additional 117,380 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Evolution Petroleum by 26.2% in the third quarter. Allianz Asset Management GmbH now owns 395,826 shares of the energy company’s stock worth $2,850,000 after buying an additional 82,213 shares during the period.
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Evolution Petroleum Company Profile
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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