Evolution Petroleum (NYSEAMERICAN:EPM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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 analysts have also issued reports about the stock. Roth Capital set a $11.00 price target on shares of Evolution Petroleum and gave the company a “buy” rating in a research report on Friday, October 20th. Northland Securities set a $7.00 price target on shares of Evolution Petroleum and gave the company a “hold” rating in a research report on Monday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Evolution Petroleum currently has a consensus rating of “Hold” and a consensus price target of $8.94.

Shares of Evolution Petroleum (NYSEAMERICAN:EPM) traded down $0.10 during trading on Tuesday, reaching $6.85. 135,796 shares of the company’s stock were exchanged, compared to its average volume of 91,867. Evolution Petroleum has a 12 month low of $6.35 and a 12 month high of $9.80. The stock has a market capitalization of $229.80, a PE ratio of 27.40 and a beta of 0.81.

Evolution Petroleum (NYSEAMERICAN:EPM) last issued its earnings results on Wednesday, November 8th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Evolution Petroleum had a net margin of 25.07% and a return on equity of 12.54%. The company had revenue of $8.54 million during the quarter, compared to analysts’ expectations of $8.19 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year.

In other Evolution Petroleum news, CFO David Joe sold 7,110 shares of Evolution Petroleum stock in a transaction on Friday, November 10th. The shares were sold at an average price of $7.50, for a total value of $53,325.00. Following the transaction, the chief financial officer now owns 365,427 shares in the company, valued at approximately $2,740,702.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge funds have recently modified their holdings of the company. Virtu KCG Holdings LLC purchased a new position in shares of Evolution Petroleum in the 2nd quarter valued at $101,000. Alliancebernstein L.P. purchased a new position in shares of Evolution Petroleum in the 2nd quarter valued at $133,000. The Manufacturers Life Insurance Company raised its stake in shares of Evolution Petroleum by 21.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,975 shares of the energy company’s stock valued at $194,000 after acquiring an additional 4,215 shares during the period. First Quadrant L P CA raised its stake in shares of Evolution Petroleum by 93.7% in the 3rd quarter. First Quadrant L P CA now owns 26,706 shares of the energy company’s stock valued at $192,000 after acquiring an additional 12,917 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Evolution Petroleum 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 acquiring an additional 365 shares during the period.

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Evolution Petroleum 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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