Evolution Petroleum (NYSEAMERICAN:EPM) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a sell rating to a hold rating in a report released on Monday, Zacks.com reports.

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. “

Separately, Northland Securities reissued a hold rating and set a $8.00 price objective on shares of Evolution Petroleum in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $8.94.

EPM traded down $0.10 during midday trading on Monday, reaching $6.71. The company’s stock had a trading volume of 5,886 shares, compared to its average volume of 146,647. Evolution Petroleum has a twelve month low of $5.99 and a twelve month high of $12.83.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its earnings results on Wednesday, May 8th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The business had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $9.94 million.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend was Thursday, June 13th.

Several large investors have recently made changes to their positions in EPM. Advisor Group Inc. boosted its stake in Evolution Petroleum by 45.5% in the 4th quarter. Advisor Group Inc. now owns 4,802 shares of the energy company’s stock valued at $33,000 after buying an additional 1,502 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Evolution Petroleum by 59,111.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,329 shares of the energy company’s stock valued at $36,000 after purchasing an additional 5,320 shares during the last quarter. SG Americas Securities LLC bought a new position in Evolution Petroleum in the 4th quarter valued at $73,000. Meeder Asset Management Inc. raised its position in Evolution Petroleum by 35.6% in the 1st quarter. Meeder Asset Management Inc. now owns 14,903 shares of the energy company’s stock valued at $99,000 after purchasing an additional 3,912 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in Evolution Petroleum in the 4th quarter valued at $125,000.

About Evolution Petroleum

Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.

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