Evolution Petroleum Corp (NYSE:EPM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

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. “

A number of other research firms also recently issued reports on EPM. BidaskClub raised shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Roth Capital set a $11.00 price target on shares of Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Thursday. Finally, Scotiabank set a $10.00 price target on shares of Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Saturday, July 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $10.00.

Shares of Evolution Petroleum Corp (NYSE:EPM) remained flat at $7.70 during midday trading on Monday. The company’s stock had a trading volume of 103,732 shares. The firm has a market capitalization of $251.54 million and a PE ratio of 9.78. The firm’s 50-day moving average is $8.08 and its 200 day moving average is $8.02. Evolution Petroleum Corp has a 12 month low of $5.21 and a 12 month high of $10.20.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Evolution Petroleum Corp by 43.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 373,295 shares of the energy company’s stock worth $3,733,000 after buying an additional 113,015 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in Evolution Petroleum Corp by 65.0% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 135,286 shares of the energy company’s stock worth $1,081,000 after buying an additional 53,286 shares during the period. LSV Asset Management purchased a new position in Evolution Petroleum Corp during the first quarter worth $708,000. River Road Asset Management LLC boosted its position in Evolution Petroleum Corp by 0.5% in the first quarter. River Road Asset Management LLC now owns 589,987 shares of the energy company’s stock worth $4,720,000 after buying an additional 2,740 shares during the period. Finally, Metropolitan Life Insurance Co. NY purchased a new position in Evolution Petroleum Corp during the fourth quarter worth $177,000.

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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