Zacks Investment Research downgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a buy rating to a hold rating in a research report released on Thursday.
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 brokerages also recently weighed in on EPM. Eurobank EFG raised shares of Evolution Petroleum from a hold rating to a buy rating and set a $10.00 price target on the stock in a report on Thursday, February 8th. UBS Group raised shares of Evolution Petroleum from a neutral rating to a buy rating in a report on Thursday, February 8th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $9.40.
Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings data on Wednesday, February 7th. The energy company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Evolution Petroleum had a net margin of 35.03% and a return on equity of 21.51%. The company had revenue of $11.07 million for the quarter, compared to the consensus estimate of $10.66 million.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Wednesday, March 14th. This is a boost from Evolution Petroleum’s previous quarterly dividend of $0.08. Evolution Petroleum’s payout ratio is currently 100.00%.
In other Evolution Petroleum news, CFO David Joe sold 16,666 shares of the business’s stock in a transaction on Monday, February 12th. The shares were 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 in the company, valued at $2,822,739.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Advisors L.L.C. Jvl sold 25,383 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $8.00, for a total transaction of $203,064.00. The disclosure for this sale can be found here. Insiders sold 90,536 shares of company stock worth $703,037 in the last 90 days.
A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in shares of Evolution Petroleum by 55.3% during the fourth quarter. Millennium Management LLC now owns 51,371 shares of the energy company’s stock valued at $352,000 after purchasing an additional 18,302 shares during the period. Two Sigma Investments LP boosted its stake in shares of Evolution Petroleum by 14.0% during the fourth quarter. Two Sigma Investments LP now owns 56,738 shares of the energy company’s stock valued at $389,000 after purchasing an additional 6,963 shares during the period. Stone Ridge Asset Management LLC purchased a new stake in shares of Evolution Petroleum during the fourth quarter valued at $170,000. Cornercap Investment Counsel Inc. boosted its stake in shares of Evolution Petroleum by 15.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 110,485 shares of the energy company’s stock valued at $757,000 after purchasing an additional 14,855 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Evolution Petroleum by 20.2% during the fourth quarter. Deutsche Bank AG now owns 105,466 shares of the energy company’s stock valued at $719,000 after purchasing an additional 17,701 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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