Evolution Petroleum Corp (NYSE:EPM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Natural Gas Systems, Inc. is a development stage company formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production and develop incremental reserves, particularly in low permeability reservoirs amenable to lateral drilling technology. “

Other research analysts have also recently issued reports about the stock. Roth Capital set a $11.00 target price on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a report on Monday. Scotiabank set a $11.00 target price on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a report on Monday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Evolution Petroleum Corp presently has a consensus rating of “Buy” and a consensus target price of $10.25.

Shares of Evolution Petroleum Corp (NYSE:EPM) remained flat at $8.05 on Wednesday. The stock had a trading volume of 117,094 shares. The stock has a market capitalization of $262.98 million and a P/E ratio of 10.23. The stock has a 50-day moving average price of $7.92 and a 200-day moving average price of $8.49. Evolution Petroleum Corp has a 12 month low of $5.07 and a 12 month high of $10.20.

Evolution Petroleum Corp (NYSE:EPM) last issued its earnings results on Monday, May 8th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The business had revenue of $9.53 million for the quarter, compared to the consensus estimate of $9.65 million. Analysts forecast that Evolution Petroleum Corp will post $0.29 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Tuesday, June 13th.

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Several hedge funds have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. purchased a new stake in Evolution Petroleum Corp during the third quarter worth $1,570,000. Arrowpoint Asset Management LLC boosted its stake in Evolution Petroleum Corp by 12.6% in the fourth quarter. Arrowpoint Asset Management LLC now owns 2,225,936 shares of the energy company’s stock worth $22,259,000 after buying an additional 249,487 shares in the last quarter. Numeric Investors LLC purchased a new stake in Evolution Petroleum Corp during the fourth quarter worth $1,830,000. Russell Investments Group Ltd. purchased a new stake in Evolution Petroleum Corp during the fourth quarter worth $1,751,000. Finally, Allianz Asset Management AG boosted its stake in Evolution Petroleum Corp by 115.5% in the fourth quarter. Allianz Asset Management AG now owns 322,163 shares of the energy company’s stock worth $3,222,000 after buying an additional 172,669 shares in the last quarter.

About Evolution Petroleum Corp

Evolution Petroleum Corporation is an independent oil and gas 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. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.

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