Roth Capital Upgrades Evolution Petroleum (EPM) to “Buy”

Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by equities researchers at Roth Capital from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Separately, Zacks Investment Research cut shares of Evolution Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th.

Shares of NYSEAMERICAN:EPM traded up $0.09 during trading hours on Monday, reaching $7.37. The stock had a trading volume of 4,275 shares, compared to its average volume of 150,637. Evolution Petroleum has a 1 year low of $6.17 and a 1 year high of $12.83.

Evolution Petroleum (NYSEAMERICAN:EPM) last issued its earnings results on Thursday, November 8th. The energy company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $12.31 million during the quarter, compared to analyst estimates of $12.47 million.

In other Evolution Petroleum news, Director Marran H. Ogilvie purchased 6,800 shares of the firm’s stock in a transaction that occurred on Monday, December 31st. The stock was purchased at an average price of $6.81 per share, for a total transaction of $46,308.00. Following the purchase, the director now directly owns 36,667 shares in the company, valued at $249,702.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Evolution Petroleum by 35.2% in the 2nd quarter. BlackRock Inc. now owns 3,025,330 shares of the energy company’s stock valued at $29,798,000 after purchasing an additional 788,088 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Evolution Petroleum by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 932,363 shares of the energy company’s stock valued at $9,184,000 after acquiring an additional 121,866 shares in the last quarter. Bank of America Corp DE increased its holdings in Evolution Petroleum by 332.6% during the 2nd quarter. Bank of America Corp DE now owns 94,174 shares of the energy company’s stock valued at $928,000 after acquiring an additional 72,406 shares in the last quarter. California Public Employees Retirement System increased its holdings in Evolution Petroleum by 12.3% during the 2nd quarter. California Public Employees Retirement System now owns 102,947 shares of the energy company’s stock valued at $1,014,000 after acquiring an additional 11,247 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Evolution Petroleum by 2.7% during the 2nd quarter. Northern Trust Corp now owns 367,464 shares of the energy company’s stock valued at $3,619,000 after acquiring an additional 9,679 shares in the last quarter.

About Evolution Petroleum

Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.

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