Zacks Investment Research upgraded shares of Evolution Petroleum Corp (NYSE:EPM) from a hold rating to a strong-buy rating in a research note published on Tuesday. They currently have $6.75 price target 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. “

A number of other analysts have also recently issued reports on the company. TheStreet raised Evolution Petroleum Corp from a hold rating to a buy rating in a report on Thursday, September 8th. Roth Capital reaffirmed a buy rating on shares of Evolution Petroleum Corp in a report on Tuesday, July 12th.

Evolution Petroleum Corp (NYSE:EPM) opened at 5.94 on Tuesday. The firm has a market capitalization of $193.06 million and a price-to-earnings ratio of 8.14. The company has a 50 day moving average price of $5.58 and a 200-day moving average price of $5.36. Evolution Petroleum Corp has a 1-year low of $3.60 and a 1-year high of $7.54.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 3.37%.

Several hedge funds have recently added to or reduced their stakes in the stock. Numeric Investors LLC acquired a new stake in Evolution Petroleum Corp during the second quarter valued at $103,000. Rhumbline Advisers boosted its stake in Evolution Petroleum Corp by 38.2% in the second quarter. Rhumbline Advisers now owns 32,465 shares of the company’s stock valued at $178,000 after buying an additional 8,976 shares during the last quarter. Strs Ohio boosted its stake in Evolution Petroleum Corp by 15.2% in the second quarter. Strs Ohio now owns 66,700 shares of the company’s stock valued at $364,000 after buying an additional 8,800 shares during the last quarter. BlackRock Investment Management LLC boosted its stake 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 valued at $485,000 after buying an additional 6,493 shares during the last quarter. Finally, Allianz Asset Management AG boosted its stake 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 valued at $901,000 after buying an additional 50,803 shares during 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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