Evolution Petroleum Corp (NYSEAMERICAN:EPM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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. “

A number of other research firms have also commented on EPM. Scotiabank set a $10.00 price objective on Evolution Petroleum Corp and gave the stock a “buy” rating in a research note on Saturday, July 22nd. BidaskClub lowered Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Roth Capital set a $11.00 price objective on Evolution Petroleum Corp and gave the stock a “buy” rating in a research note on Thursday, August 10th. Finally, Northland Securities set a $8.00 price objective on Evolution Petroleum Corp and gave the stock a “hold” rating in a research note on Monday, August 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $9.67.

Evolution Petroleum Corp (EPM) traded down $0.50 during trading on Wednesday, hitting $6.80. The stock had a trading volume of 73,100 shares, compared to its average volume of 107,929. Evolution Petroleum Corp has a twelve month low of $6.35 and a twelve month high of $10.20.

Evolution Petroleum Corp (NYSEAMERICAN:EPM) last posted its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.19 million. Evolution Petroleum Corp had a return on equity of 8.76% and a net margin of 16.99%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share.

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In related news, CFO David Joe sold 7,110 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $7.50, for a total transaction of $53,325.00. Following the transaction, the chief financial officer now directly owns 365,427 shares in the company, valued at $2,740,702.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH increased its stake in Evolution Petroleum Corp by 26.2% during the third quarter. Allianz Asset Management GmbH now owns 395,826 shares of the energy company’s stock valued at $2,850,000 after acquiring an additional 82,213 shares during the period. Dimensional Fund Advisors LP increased its stake in Evolution Petroleum Corp by 20.3% during the third quarter. Dimensional Fund Advisors LP now owns 627,699 shares of the energy company’s stock valued at $4,519,000 after acquiring an additional 106,018 shares during the period. Wells Fargo & Company MN increased its stake in Evolution Petroleum Corp by 53.8% during the third quarter. Wells Fargo & Company MN now owns 32,313 shares of the energy company’s stock valued at $233,000 after acquiring an additional 11,307 shares during the period. Amica Pension Fund Board of Trustees increased its stake in Evolution Petroleum Corp by 114.8% during the third quarter. Amica Pension Fund Board of Trustees now owns 227,080 shares of the energy company’s stock valued at $1,635,000 after acquiring an additional 121,385 shares during the period. Finally, Amica Mutual Insurance Co. increased its stake in Evolution Petroleum Corp by 114.0% during the third quarter. Amica Mutual Insurance Co. now owns 308,057 shares of the energy company’s stock valued at $2,218,000 after acquiring an additional 164,097 shares during the period.

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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