Evolution Petroleum Corp (EPM) Short Interest Update
Evolution Petroleum Corp (NYSE:EPM) saw a large decline in short interest in the month of September. As of September 29th, there was short interest totalling 252,378 shares, a decline of 44.8% from the September 15th total of 457,429 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 143,286 shares, the days-to-cover ratio is presently 1.8 days.
Shares of Evolution Petroleum Corp (EPM) opened at 7.30 on Friday. The firm’s 50-day moving average price is $7.01 and its 200-day moving average price is $7.66. The company has a market capitalization of $238.67 million and a price-to-earnings ratio of 35.44. Evolution Petroleum Corp has a one year low of $6.35 and a one year high of $10.20.
Evolution Petroleum Corp (NYSE:EPM) last released its earnings results on Wednesday, September 6th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Evolution Petroleum Corp had a net margin of 16.99% and a return on equity of 8.76%. The business had revenue of $8.84 million for the quarter, compared to analysts’ expectations of $9.52 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. Evolution Petroleum Corp’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts anticipate that Evolution Petroleum Corp will post $0.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.30 annualized dividend and a dividend yield of 4.11%. This is an increase from Evolution Petroleum Corp’s previous quarterly dividend of $0.07.
A number of research analysts have recently issued reports on EPM shares. Zacks Investment Research raised Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Scotiabank set a $10.00 price objective on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Saturday, July 22nd. BidaskClub lowered Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Roth Capital set a $11.00 target price on Evolution Petroleum Corp and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Northland Securities set a $8.00 target price on Evolution Petroleum Corp and gave the company a “hold” rating in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $9.67.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC bought a new stake in Evolution Petroleum Corp in the 2nd quarter worth approximately $101,000. First Quadrant L P CA bought a new stake in Evolution Petroleum Corp in the 2nd quarter worth approximately $112,000. American International Group Inc. grew its position in Evolution Petroleum Corp by 7.1% in the 1st quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock worth $120,000 after purchasing an additional 999 shares during the period. Nationwide Fund Advisors grew its position in Evolution Petroleum Corp by 14.2% in the 1st quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock worth $127,000 after purchasing an additional 1,979 shares during the period. Finally, Alliancebernstein L.P. bought a new stake in Evolution Petroleum Corp in the 2nd quarter worth approximately $133,000.
Evolution Petroleum Corp Company Profile
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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