Evolution Petroleum (NYSEAMERICAN:EPM) Shares Cross Below 50 Day Moving Average – What’s Next?

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.33 and traded as low as $3.63. Evolution Petroleum shares last traded at $3.64, with a volume of 361,588 shares changing hands.

Wall Street Analysts Forecast Growth

EPM has been the topic of a number of recent analyst reports. Northland Securities set a $4.50 price objective on shares of Evolution Petroleum in a research note on Wednesday, May 13th. Freedom Capital downgraded Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.93.

Evolution Petroleum Trading Down 1.1%

The business’s fifty day moving average is $4.33 and its 200-day moving average is $4.18. The firm has a market cap of $130.57 million, a P/E ratio of -33.09 and a beta of 0.23. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.61 and a current ratio of 0.61.

Evolution Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend was Monday, June 15th. Evolution Petroleum’s payout ratio is currently 600.08%.

Hedge Funds Weigh In On Evolution Petroleum

Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank boosted its position in shares of Evolution Petroleum by 894.0% during the 3rd quarter. Comerica Bank now owns 6,908 shares of the energy company’s stock valued at $33,000 after purchasing an additional 6,213 shares in the last quarter. StoneX Group Inc. acquired a new position in Evolution Petroleum during the fourth quarter worth $36,000. Inscription Capital LLC bought a new position in Evolution Petroleum in the 4th quarter valued at about $38,000. BNP Paribas Financial Markets lifted its holdings in shares of Evolution Petroleum by 163.4% in the third quarter. BNP Paribas Financial Markets now owns 8,194 shares of the energy company’s stock valued at $39,000 after purchasing an additional 5,083 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Evolution Petroleum by 20.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,836 shares of the energy company’s stock worth $49,000 after acquiring an additional 2,340 shares during the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

About Evolution Petroleum

Evolution Petroleum Corporation (NYSE American: EPM) is an independent oil and natural gas company focused on enhanced oil recovery (EOR) through the use of carbon dioxide. Headquartered in Houston, Texas, the company specializes in acquiring and developing mature hydrocarbon reservoirs that benefit from CO₂ injection to increase production efficiency. Evolution Petroleum’s business model combines property acquisition, reservoir engineering, and CO₂ management to optimize recovery of oil and associated gas.

The company’s primary asset is the Jackson Dome CO₂ field in southwestern Mississippi, where natural carbon dioxide is produced, separated and reinjected into adjacent oil-bearing formations.