Evolution Petroleum Corp (NYSE:EPM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
EPM has been the topic of several other research reports. Scotiabank set a $11.00 price target on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Monday, March 27th. Roth Capital set a $11.00 price target on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Evolution Petroleum Corp currently has a consensus rating of “Buy” and an average price target of $10.25.
Shares of Evolution Petroleum Corp (NYSE:EPM) opened at 7.55 on Wednesday. The firm has a market capitalization of $246.64 million and a price-to-earnings ratio of 9.59. The firm has a 50-day moving average price of $7.91 and a 200 day moving average price of $8.48. Evolution Petroleum Corp has a 12 month low of $5.07 and a 12 month high of $10.20.
Evolution Petroleum Corp (NYSE:EPM) last announced its quarterly earnings results on Monday, May 8th. The energy company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The company had revenue of $9.53 million during the quarter, compared to analyst estimates of $9.65 million. On average, analysts anticipate that Evolution Petroleum Corp will post $0.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Tuesday, June 13th.
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Large investors have recently modified their holdings of the stock. Numeric Investors LLC acquired a new stake in shares of Evolution Petroleum Corp during the fourth quarter worth $1,830,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Evolution Petroleum Corp during the fourth quarter worth $177,000. Two Sigma Investments LP acquired a new stake in shares of Evolution Petroleum Corp during the fourth quarter worth $1,094,000. Arrowpoint Asset Management LLC increased its stake in shares of Evolution Petroleum Corp by 12.6% in the fourth quarter. Arrowpoint Asset Management LLC now owns 2,225,936 shares of the energy company’s stock worth $22,259,000 after buying an additional 249,487 shares in the last quarter. Finally, Menta Capital LLC increased its stake in shares of Evolution Petroleum Corp by 15.0% in the fourth quarter. Menta Capital LLC now owns 244,313 shares of the energy company’s stock worth $2,443,000 after buying an additional 31,959 shares in the last quarter.
Evolution Petroleum Corp 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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