Evolution Petroleum Corp (EPM) Stock Rating Upgraded by Zacks Investment Research
Evolution Petroleum Corp (NYSEAMERICAN:EPM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 also recently issued reports on the company. Roth Capital set a $11.00 target price on Evolution Petroleum Corp and gave the stock a “buy” rating in a research report on Friday, October 20th. Northland Securities set a $8.00 price target on Evolution Petroleum Corp and gave the stock a “hold” rating in a report on Monday, August 28th. BidaskClub lowered Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Scotiabank set a $10.00 price target on Evolution Petroleum Corp and gave the stock a “buy” rating in a report on Saturday, July 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.67.
Shares of Evolution Petroleum Corp (NYSEAMERICAN EPM) opened at $6.90 on Wednesday. Evolution Petroleum Corp has a 52-week low of $6.35 and a 52-week high of $10.20.
Evolution Petroleum Corp (NYSEAMERICAN:EPM) last issued its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Evolution Petroleum Corp had a return on equity of 8.76% and a net margin of 16.99%. The company had revenue of $8.54 million during the quarter, compared to the consensus estimate of $8.19 million. During the same period last year, the business posted $0.02 earnings per share. Evolution Petroleum Corp’s revenue was up 12.5% on a year-over-year basis.
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In other news, CFO David Joe sold 7,110 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $7.50, for a total value of $53,325.00. Following the completion of the transaction, the chief financial officer now directly owns 365,427 shares of the company’s stock, valued at $2,740,702.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Evolution Petroleum Corp by 8.0% during the first quarter. Geode Capital Management LLC now owns 259,056 shares of the energy company’s stock valued at $2,072,000 after buying an additional 19,140 shares during the period. Russell Investments Group Ltd. boosted its stake in Evolution Petroleum Corp by 20.8% during the second quarter. Russell Investments Group Ltd. now owns 149,180 shares of the energy company’s stock valued at $1,209,000 after buying an additional 25,684 shares during the period. Vanguard Group Inc. lifted its stake in Evolution Petroleum Corp by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,187,925 shares of the energy company’s stock worth $9,503,000 after purchasing an additional 26,421 shares during the last quarter. Prudential Financial Inc. lifted its stake in Evolution Petroleum Corp by 39.2% during the first quarter. Prudential Financial Inc. now owns 50,091 shares of the energy company’s stock worth $401,000 after purchasing an additional 14,100 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Evolution Petroleum Corp by 9.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 197,353 shares of the energy company’s stock worth $1,599,000 after purchasing an additional 16,936 shares during the last quarter.
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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