Evolution Petroleum Corp (NYSE:EPM) Raised to Buy at BidaskClub
Evolution Petroleum Corp (NYSE:EPM) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.
Several other equities analysts have also recently weighed in on the company. Scotiabank set a $10.00 price objective on Evolution Petroleum Corp and gave the company a “buy” rating in a report on Monday, June 5th. Zacks Investment Research cut Evolution Petroleum Corp from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Finally, Roth Capital set a $11.00 price objective on Evolution Petroleum Corp and gave the company a “buy” rating in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $10.00.
Shares of Evolution Petroleum Corp (NYSE:EPM) traded down 0.60% during trading on Thursday, hitting $8.25. The stock had a trading volume of 78,810 shares. The company has a market capitalization of $269.51 million and a price-to-earnings ratio of 10.48. The firm has a 50 day moving average of $7.74 and a 200 day moving average of $8.32. Evolution Petroleum Corp has a 1-year low of $5.12 and a 1-year high of $10.20.
Evolution Petroleum Corp (NYSE:EPM) last released its quarterly earnings data on Monday, May 8th. The energy company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Evolution Petroleum Corp had a net margin of 25.40% and a return on equity of 14.11%. The business had revenue of $9.53 million for the quarter, compared to the consensus estimate of $9.65 million. Analysts expect that Evolution Petroleum Corp will post $0.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.39%. The ex-dividend date was Tuesday, June 13th.
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A number of large investors have recently added to or reduced their stakes in EPM. American International Group Inc. boosted its stake in Evolution Petroleum Corp by 7.1% in the first quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock valued at $120,000 after buying an additional 999 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Evolution Petroleum Corp by 14.2% in the first quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock valued at $127,000 after buying an additional 1,979 shares during the last quarter. Bank of Montreal Can boosted its stake in Evolution Petroleum Corp by 559.3% in the first quarter. Bank of Montreal Can now owns 18,420 shares of the energy company’s stock valued at $147,000 after buying an additional 15,626 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Evolution Petroleum Corp by 15.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 20,319 shares of the energy company’s stock valued at $163,000 after buying an additional 2,662 shares during the last quarter. Finally, Sawgrass Asset Management LLC purchased a new stake in Evolution Petroleum Corp during the first quarter valued at approximately $218,000.
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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