Evolution Petroleum (NYSEAMERICAN:EPM) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $3.76 and traded as low as $3.25. Evolution Petroleum shares last traded at $3.34, with a volume of 4,408,428 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EPM. Northland Securities set a $4.00 price target on shares of Evolution Petroleum in a research note on Thursday, July 23rd. Zacks Research lowered Evolution Petroleum from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Freedom Capital cut Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.77.

Evolution Petroleum Stock Down 12.8%

The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97. The business has a fifty day simple moving average of $3.76 and a two-hundred day simple moving average of $4.21. The company has a market cap of $119.81 million, a PE ratio of -30.36 and a beta of 0.25.

Hedge Funds Weigh In On Evolution Petroleum

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Evolution Petroleum during the 2nd quarter worth approximately $8,894,000. Rothschild Wealth LLC acquired a new stake in shares of Evolution Petroleum in the fourth quarter valued at approximately $617,000. WealthTrust Axiom LLC increased its holdings in shares of Evolution Petroleum by 9.4% in the fourth quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock valued at $6,898,000 after purchasing an additional 166,624 shares during the last quarter. Raymond James Financial Inc. lifted its position in Evolution Petroleum by 30.9% during the second quarter. Raymond James Financial Inc. now owns 468,620 shares of the energy company’s stock worth $2,203,000 after buying an additional 110,687 shares in the last quarter. Finally, UBS Group AG lifted its position in Evolution Petroleum by 23.2% during the third quarter. UBS Group AG now owns 469,692 shares of the energy company’s stock worth $2,264,000 after buying an additional 88,575 shares in the last quarter. 60.07% of the stock is owned by hedge funds and other institutional investors.

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.