Evolution Petroleum Corp (EPM) Lifted to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Evolution Petroleum Corp (NYSE:EPM) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday. The brokerage currently has $6.75 price objective on the stock.
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. “
EPM has been the topic of several other reports. Roth Capital restated a buy rating on shares of Evolution Petroleum Corp in a report on Thursday, May 26th. TheStreet upgraded Evolution Petroleum Corp from a hold rating to a buy rating in a report on Thursday, September 8th.
Shares of Evolution Petroleum Corp (NYSE:EPM) opened at 5.94 on Tuesday. The company’s 50-day moving average price is $5.58 and its 200-day moving average price is $5.36. The company has a market capitalization of $193.06 million and a PE ratio of 8.14. Evolution Petroleum Corp has a 1-year low of $3.60 and a 1-year high of $7.54.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, September 13th.
Several hedge funds have recently added to or reduced their stakes in the company. Numeric Investors LLC purchased a new stake in Evolution Petroleum Corp during the second quarter valued at $103,000. Rhumbline Advisers raised its position in Evolution Petroleum Corp by 38.2% in the second quarter. Rhumbline Advisers now owns 32,465 shares of the company’s stock worth $178,000 after buying an additional 8,976 shares in the last quarter. Strs Ohio raised its position in Evolution Petroleum Corp by 15.2% in the second quarter. Strs Ohio now owns 66,700 shares of the company’s stock worth $364,000 after buying an additional 8,800 shares in the last quarter. BlackRock Investment Management LLC raised its position in Evolution Petroleum Corp by 7.9% in the second quarter. BlackRock Investment Management LLC now owns 88,576 shares of the company’s stock worth $485,000 after buying an additional 6,493 shares in the last quarter. Finally, Allianz Asset Management AG raised its position in Evolution Petroleum Corp by 44.6% in the second quarter. Allianz Asset Management AG now owns 164,669 shares of the company’s stock worth $901,000 after buying an additional 50,803 shares in the last quarter.
Evolution Petroleum Corp Company Profile
Evolution Petroleum Corporation is an independent petroleum 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. The Company focuses on applying artificial lift technology called Gas Assisted Rod Pump (GARP) for recovering incremental oil and gas from existing wells.
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