Short Interest in Evolution Petroleum Corp (EPM) Decreases By 44.8%
Evolution Petroleum Corp (NYSE:EPM) was the recipient of a significant decrease in short interest during the month of September. As of September 29th, there was short interest totalling 252,378 shares, a decrease of 44.8% from the September 15th total of 457,429 shares. Based on an average daily volume of 143,286 shares, the short-interest ratio is currently 1.8 days. Currently, 0.8% of the shares of the stock are short sold.
Shares of Evolution Petroleum Corp (NYSE EPM) opened at 7.30 on Wednesday. The company has a market capitalization of $238.67 million and a PE ratio of 35.44. The firm’s 50-day moving average price is $7.02 and its 200 day moving average price is $7.66. Evolution Petroleum Corp has a 1-year low of $6.35 and a 1-year high of $10.20.
Evolution Petroleum Corp (NYSE:EPM) last announced its quarterly earnings results on Wednesday, September 6th. The energy company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Evolution Petroleum Corp had a net margin of 16.99% and a return on equity of 8.76%. The firm had revenue of $8.84 million during the quarter, compared to the consensus estimate of $9.52 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities analysts predict that Evolution Petroleum Corp will post $0.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.11%. This is an increase from Evolution Petroleum Corp’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, September 14th.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Roth Capital set a $11.00 target price on Evolution Petroleum Corp and gave the stock a “buy” rating in a research note on Thursday, August 10th. BidaskClub cut Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Scotiabank set a $10.00 target price on Evolution Petroleum Corp and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Finally, Northland Securities set a $8.00 target price on Evolution Petroleum Corp and gave the stock a “hold” rating in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $9.67.
A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in Evolution Petroleum Corp by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 27,341 shares of the energy company’s stock valued at $221,000 after purchasing an additional 365 shares during the period. American International Group Inc. boosted its holdings in Evolution Petroleum Corp by 7.1% in the 1st quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock valued at $120,000 after purchasing an additional 999 shares during the period. Connors Investor Services Inc. boosted its holdings in Evolution Petroleum Corp by 5.5% in the 2nd quarter. Connors Investor Services Inc. now owns 31,637 shares of the energy company’s stock valued at $256,000 after purchasing an additional 1,637 shares during the period. Nationwide Fund Advisors boosted its holdings in Evolution Petroleum Corp by 14.2% in the 1st quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock valued at $127,000 after purchasing an additional 1,979 shares during the period. Finally, Chicago Equity Partners LLC boosted its holdings in Evolution Petroleum Corp by 7.9% in the 2nd quarter. Chicago Equity Partners LLC now owns 31,670 shares of the energy company’s stock valued at $257,000 after purchasing an additional 2,320 shares during the period.
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Evolution Petroleum Corp Company Profile
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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