Evolution Petroleum Corp (EPM) Now Covered by Howard Weil
Howard Weil assumed coverage on shares of Evolution Petroleum Corp (NYSE:EPM) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a $10.00 price target on the stock. Howard Weil’s price objective would suggest a potential upside of 35.14% from the company’s previous close.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. TheStreet raised Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a report on Thursday, September 8th. Finally, Roth Capital reissued a “buy” rating on shares of Evolution Petroleum Corp in a report on Tuesday, July 12th.
Evolution Petroleum Corp (NYSE:EPM) opened at 7.40 on Monday. The stock has a market capitalization of $240.51 million and a PE ratio of 10.14. The company’s 50-day moving average price is $6.15 and its 200 day moving average price is $5.57. Evolution Petroleum Corp has a 52-week low of $3.60 and a 52-week high of $7.77.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.70%.
Several institutional investors have recently added to or reduced their stakes in the stock. WealthTrust Axiom LLC boosted its position in Evolution Petroleum Corp by 14.2% in the second quarter. WealthTrust Axiom LLC now owns 619,277 shares of the company’s stock valued at $3,387,000 after buying an additional 76,789 shares during the last quarter. Allianz Asset Management AG boosted its position in shares of Evolution Petroleum Corp by 44.6% in the second quarter. Allianz Asset Management AG now owns 164,669 shares of the company’s stock worth $901,000 after buying an additional 50,803 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Evolution Petroleum Corp by 6.1% in the second quarter. Vanguard Group Inc. now owns 863,342 shares of the company’s stock worth $4,722,000 after buying an additional 49,493 shares in the last quarter. Thomson Horstmann & Bryant Inc. boosted its position in shares of Evolution Petroleum Corp by 3.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 1,045,972 shares of the company’s stock worth $5,721,000 after buying an additional 32,128 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Evolution Petroleum Corp by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 266,179 shares of the company’s stock worth $1,456,000 after buying an additional 23,451 shares in the last quarter.
About Evolution Petroleum Corp
Evolution Petroleum Corporation is an independent petroleum 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. The Company focuses on applying artificial lift technology called Gas Assisted Rod Pump (GARP) for recovering incremental oil and gas from existing wells.
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