Evolution Petroleum (NYSEAMERICAN:EPM) announced its earnings results on Thursday. The energy company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01, Fidelity Earnings reports. Evolution Petroleum had a net margin of 35.03% and a return on equity of 21.51%.
Shares of EPM traded up $0.20 during mid-day trading on Friday, reaching $9.95. The stock had a trading volume of 138,700 shares, compared to its average volume of 144,116. Evolution Petroleum has a 12 month low of $6.35 and a 12 month high of $12.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a $0.10 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.02%.
EPM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Evolution Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday, July 11th. Johnson Rice lowered shares of Evolution Petroleum from an “accumulate” rating to a “hold” rating and set a $10.00 price target for the company. in a research report on Wednesday, August 15th. Roth Capital reiterated a “neutral” rating and issued a $8.50 price target on shares of Evolution Petroleum in a research report on Monday, July 23rd. Finally, UBS Group lowered shares of Evolution Petroleum from a “buy” rating to a “neutral” rating in a research report on Thursday, July 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.70.
In related news, major shareholder Advisors L.L.C. Jvl sold 256,231 shares of the company’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $10.18, for a total transaction of $2,608,431.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Joe sold 12,352 shares of the company’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $12.00, for a total transaction of $148,224.00. Following the transaction, the chief financial officer now owns 265,238 shares of the company’s stock, valued at approximately $3,182,856. The disclosure for this sale can be found here. Over the last quarter, insiders sold 840,347 shares of company stock valued at $8,474,968.
An institutional investor recently raised its position in Evolution Petroleum stock. Bank of New York Mellon Corp raised its holdings in shares of Evolution Petroleum Corp (NYSEAMERICAN:EPM) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 393,255 shares of the energy company’s stock after purchasing an additional 11,934 shares during the quarter. Bank of New York Mellon Corp owned 1.19% of Evolution Petroleum worth $3,874,000 as of its most recent filing with the Securities & Exchange Commission.
Evolution Petroleum Company Profile
Evolution Petroleum Corporation, an independent oil and gas company, engages in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The company's principal assets include interests in a CO2 enhanced oil recovery project and the natural gas liquids recovery plant in the Delhi field Louisiana.
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