Evolution Petroleum Corp (EPM) Receives Average Rating of “Buy” from Analysts

Shares of Evolution Petroleum Corp (NYSEAMERICAN:EPM) have received a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.50.

EPM has been the subject of a number of research reports. Roth Capital set a $11.00 price objective on shares of Evolution Petroleum and gave the stock a “buy” rating in a report on Friday, October 20th. Zacks Investment Research raised shares of Evolution Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Northland Securities set a $7.00 price target on shares of Evolution Petroleum and gave the company a “hold” rating in a report on Monday, December 11th. Eurobank EFG raised shares of Evolution Petroleum from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday. Finally, UBS Group raised shares of Evolution Petroleum from a “neutral” rating to a “buy” rating in a report on Thursday.

Evolution Petroleum (EPM) traded up $0.50 during mid-day trading on Thursday, hitting $8.00. 82,423 shares of the stock were exchanged, compared to its average volume of 79,666. Evolution Petroleum has a twelve month low of $6.35 and a twelve month high of $9.30. The firm has a market capitalization of $244.68, a P/E ratio of 31.68 and a beta of 0.78.

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. Evolution Petroleum had a net margin of 25.07% and a return on equity of 12.54%. The business had revenue of $8.54 million during the quarter, compared to the consensus estimate of $8.19 million. During the same quarter last year, the company earned $0.02 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year.

In other Evolution Petroleum news, CFO David Joe sold 7,110 shares of Evolution Petroleum stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $7.50, for a total transaction of $53,325.00. Following the transaction, the chief financial officer now owns 365,427 shares of the company’s stock, valued at approximately $2,740,702.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

A number of large investors have recently added to or reduced their stakes in EPM. Rhumbline Advisers grew its stake in shares of Evolution Petroleum by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 27,341 shares of the energy company’s stock valued at $221,000 after buying an additional 365 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Evolution Petroleum by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 307,971 shares of the energy company’s stock valued at $2,494,000 after buying an additional 3,457 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 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 buying an additional 4,215 shares in the last quarter. River Road Asset Management LLC grew its stake in shares of Evolution Petroleum by 1.4% in the 4th quarter. River Road Asset Management LLC now owns 487,568 shares of the energy company’s stock valued at $3,340,000 after buying an additional 6,950 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Evolution Petroleum by 15.8% in the 2nd quarter. Teachers Advisors LLC now owns 52,297 shares of the energy company’s stock valued at $424,000 after buying an additional 7,150 shares in the last quarter.

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About Evolution Petroleum

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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