Evolution Petroleum Corp. PT Lowered to $12.00 (EPM)
Stock analysts at EuroPacific Canada cut their price target on shares of Evolution Petroleum Corp. (NYSE:EPM) from $12.50 to $12.00 in a report issued on Friday. EuroPacific Canada’s price objective suggests a potential upside of 16.85% from the stock’s previous close.
Evolution Petroleum Corp. (NYSE:EPM) traded down 2.34% on Friday, hitting $10.01. The stock had a trading volume of 18,887 shares. Evolution Petroleum Corp. has a 52 week low of $9.92 and a 52 week high of $13.83. The stock has a 50-day moving average of $10.85 and a 200-day moving average of $11.78. The company has a market cap of $324.4 million and a P/E ratio of 128.12. Evolution Petroleum Corp. also was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 882,459 shares, a growth of 2.6% from the July 15th total of 860,400 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 87,123 shares, the days-to-cover ratio is currently 10.1 days.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.89%.
Evolution Petroleum Corporation (NYSE:EPM) is a petroleum company engaged primarily in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States.
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