Evolution Petroleum Co. (EPM) Stake Raised by State Street Corp
State Street Corp lifted its position in shares of Evolution Petroleum Co. (NYSEAMERICAN:EPM) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 437,746 shares of the energy company’s stock after purchasing an additional 63,208 shares during the period. State Street Corp owned about 1.34% of Evolution Petroleum worth $3,548,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in EPM. Virtu KCG Holdings LLC purchased a new stake in shares of Evolution Petroleum during the 2nd quarter worth $101,000. Alliancebernstein L.P. purchased a new stake in Evolution Petroleum in the second quarter valued at $133,000. Metropolitan Life Insurance Co. NY lifted its position in Evolution Petroleum by 15.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 20,319 shares of the energy company’s stock valued at $163,000 after acquiring an additional 2,662 shares during the last quarter. Rhumbline Advisers lifted its position in Evolution Petroleum by 1.4% in the second quarter. Rhumbline Advisers now owns 27,341 shares of the energy company’s stock valued at $221,000 after acquiring an additional 365 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Evolution Petroleum by 117.6% in the second quarter. Goldman Sachs Group Inc. now owns 27,529 shares of the energy company’s stock valued at $223,000 after acquiring an additional 14,877 shares during the last quarter.
In other news, CFO David Joe sold 7,110 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $7.50, for a total value of $53,325.00. Following the completion of the sale, the chief financial officer now directly owns 365,427 shares of the company’s stock, valued at $2,740,702.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Evolution Petroleum Co. (NYSEAMERICAN:EPM) traded up $0.05 on Friday, reaching $6.80. 58,462 shares of the company were exchanged, compared to its average volume of 81,832. Evolution Petroleum Co. has a 52-week low of $6.35 and a 52-week high of $10.20.
Evolution Petroleum (NYSEAMERICAN:EPM) last announced its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Evolution Petroleum had a net margin of 16.99% and a return on equity of 8.76%. The firm had revenue of $8.54 million during the quarter, compared to analysts’ expectations of $8.19 million. During the same period in the previous year, the company earned $0.02 earnings per share. Evolution Petroleum’s quarterly revenue was up 12.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.41%. Evolution Petroleum’s payout ratio is 80.00%.
A number of brokerages recently weighed in on EPM. Northland Securities set a $8.00 price target on shares of Evolution Petroleum and gave the company a “hold” rating in a research report on Monday, August 28th. Roth Capital set a $11.00 price target on shares of Evolution Petroleum and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Zacks Investment Research cut shares of Evolution Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.67.
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About Evolution Petroleum
Evolution Petroleum Corporation is an independent oil and gas 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. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.
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