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Evolution Petroleum Corp. (NYSE:EPM) reached a new 52-week low during mid-day trading on Friday after EuroPacific Canada lowered their price target on the stock from $12.50 to $12.00, American Banking News.com reports. The company traded as low as $9.83 and last traded at $9.93, with a volume of 52,662 shares changing hands. The stock had previously closed at $10.25.

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 $323.8 million and a P/E ratio of 128.12. Evolution Petroleum Corp. also was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 882,459 shares, an increase of 2.6% from the July 15th total of 860,400 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 87,123 shares, the short-interest 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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