Evolution Petroleum Corp (EPM) Given “Outperform” Rating at Scotiabank
Evolution Petroleum Corp (NYSE:EPM)‘s stock had its “outperform” rating reaffirmed by investment analysts at Scotiabank in a research note issued on Wednesday. They currently have a $10.00 price objective on the stock. Scotiabank’s target price would suggest a potential upside of 31.58% from the company’s current price.
EPM has been the topic of a number of other reports. Zacks Investment Research upgraded Evolution Petroleum Corp from a “hold” rating to a “strong-buy” rating and set a $6.75 target price on the stock in a research report on Tuesday, September 13th. Howard Weil assumed coverage on Evolution Petroleum Corp in a research report on Monday. They issued a “sector outperform” rating and a $10.00 price objective on the stock. Roth Capital restated a “buy” rating on shares of Evolution Petroleum Corp in a research report on Tuesday, July 12th. Finally, TheStreet upgraded Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $8.92.
Shares of Evolution Petroleum Corp (NYSE:EPM) traded up 2.11% during midday trading on Wednesday, hitting $7.76. 45,084 shares of the stock were exchanged. Evolution Petroleum Corp has a one year low of $3.60 and a one year high of $8.48. The firm has a 50 day moving average of $6.27 and a 200-day moving average of $5.62. The company has a market cap of $252.21 million and a price-to-earnings ratio of 10.63.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.63%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Numeric Investors LLC purchased a new position in Evolution Petroleum Corp during the second quarter worth approximately $103,000. Rhumbline Advisers increased its stake in shares of Evolution Petroleum Corp by 38.2% in the second quarter. Rhumbline Advisers now owns 32,465 shares of the company’s stock valued at $178,000 after buying an additional 8,976 shares during the period. Strs Ohio increased its stake in shares of Evolution Petroleum Corp by 15.2% in the second quarter. Strs Ohio now owns 66,700 shares of the company’s stock valued at $364,000 after buying an additional 8,800 shares during the period. BlackRock Investment Management LLC increased its stake in shares of Evolution Petroleum Corp by 7.9% in the second quarter. BlackRock Investment Management LLC now owns 88,576 shares of the company’s stock valued at $485,000 after buying an additional 6,493 shares during the period. Finally, Allianz Asset Management AG increased its stake 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 valued at $901,000 after buying an additional 50,803 shares during the period.
Evolution Petroleum Corp Company Profile
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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