Evolution Petroleum Corp’s (EPM) Outperform Rating Reiterated at Scotiabank
Evolution Petroleum Corp (NYSE:EPM)‘s stock had its “outperform” rating reissued by analysts at Scotiabank in a research note issued on Wednesday. They presently have a $10.00 price objective on the stock. Scotiabank’s price objective would suggest a potential upside of 31.58% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the company. TheStreet raised Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Howard Weil assumed coverage on Evolution Petroleum Corp in a research note on Monday. They set a “sector outperform” rating and a $10.00 price target for the company. Zacks Investment Research raised Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Evolution Petroleum Corp in a research note on Tuesday, July 12th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $8.92.
Evolution Petroleum Corp (NYSE:EPM) traded up 2.11% on Wednesday, hitting $7.76. 45,184 shares of the stock were exchanged. Evolution Petroleum Corp has a 52 week low of $3.60 and a 52 week high of $8.48. The company’s 50-day moving average is $6.27 and its 200-day moving average is $5.62. The company has a market cap of $252.21 million and a PE ratio of 10.63.
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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 paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Tuesday, September 13th.
Several large investors have recently bought and sold shares of the company. Numeric Investors LLC purchased a new stake in Evolution Petroleum Corp during the second quarter worth $103,000. Parametric Portfolio Associates LLC increased its stake in Evolution Petroleum Corp by 1.5% in the second quarter. Parametric Portfolio Associates LLC now owns 232,635 shares of the company’s stock worth $1,273,000 after buying an additional 3,467 shares during the period. Allianz Asset Management AG increased its stake in 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 during the period. State Street Corp increased its stake in Evolution Petroleum Corp by 0.9% in the second quarter. State Street Corp now owns 281,942 shares of the company’s stock worth $1,542,000 after buying an additional 2,609 shares during the period. Finally, Rhumbline Advisers increased its stake in Evolution Petroleum Corp by 38.2% in the second quarter. Rhumbline Advisers now owns 32,465 shares of the company’s stock worth $178,000 after buying an additional 8,976 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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