Evolution Petroleum (NYSEAMERICAN:EPM) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.51 and traded as low as $4.31. Evolution Petroleum shares last traded at $4.35, with a volume of 255,120 shares.

Wall Street Analysts Forecast Growth

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

Evolution Petroleum Stock Performance

The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $4.51 and a 200 day moving average price of $4.19. The stock has a market cap of $156.03 million, a P/E ratio of -39.55 and a beta of 0.24.

Evolution Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date is Monday, June 15th. Evolution Petroleum’s dividend payout ratio is currently 600.08%.

Institutional Trading of Evolution Petroleum

Institutional investors and hedge funds have recently modified their holdings of the stock. Kathmere Capital Management LLC purchased a new stake in shares of Evolution Petroleum in the 1st quarter worth $51,000. WealthTrust Axiom LLC increased its stake in shares of Evolution Petroleum by 9.4% during the fourth quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock valued at $6,898,000 after buying an additional 166,624 shares during the period. Ellevest Inc. raised its holdings in shares of Evolution Petroleum by 59.9% in the fourth quarter. Ellevest Inc. now owns 48,933 shares of the energy company’s stock valued at $173,000 after acquiring an additional 18,333 shares in the last quarter. Comerica Bank lifted its stake in Evolution Petroleum by 385.0% in the fourth quarter. Comerica Bank now owns 33,503 shares of the energy company’s stock worth $119,000 after acquiring an additional 26,595 shares during the period. Finally, Certior Financial Group LLC lifted its stake in Evolution Petroleum by 13.1% in the fourth quarter. Certior Financial Group LLC now owns 30,869 shares of the energy company’s stock worth $109,000 after acquiring an additional 3,566 shares during the period. Institutional investors 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.