Evolution Petroleum Corp (NYSE:EPM) Upgraded at Zacks Investment Research
Evolution Petroleum Corp (NYSE:EPM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
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 research analysts also recently commented on EPM. Roth Capital set a $11.00 target price on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Thursday. BidaskClub downgraded Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research note 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 research note on Monday, June 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $10.00.
Evolution Petroleum Corp (NYSE:EPM) remained flat at $7.70 during trading on Monday. The stock had a trading volume of 103,732 shares. The firm has a market cap of $251.54 million and a price-to-earnings ratio of 9.78. The company’s 50-day moving average price is $8.08 and its 200 day moving average price is $8.02. Evolution Petroleum Corp has a 52-week low of $5.21 and a 52-week high of $10.20.
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Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Evolution Petroleum Corp by 3.8% in the second quarter. Vanguard Group Inc. now owns 1,232,494 shares of the energy company’s stock valued at $9,983,000 after buying an additional 44,569 shares during the period. River Road Asset Management LLC increased its stake in Evolution Petroleum Corp by 0.5% in the first quarter. River Road Asset Management LLC now owns 589,987 shares of the energy company’s stock valued at $4,720,000 after buying an additional 2,740 shares during the period. Dimensional Fund Advisors LP increased its stake in Evolution Petroleum Corp by 29.0% in the second quarter. Dimensional Fund Advisors LP now owns 521,681 shares of the energy company’s stock valued at $4,226,000 after buying an additional 117,380 shares during the period. State Street Corp increased its stake in Evolution Petroleum Corp by 16.9% in the second quarter. State Street Corp now owns 437,746 shares of the energy company’s stock valued at $3,548,000 after buying an additional 63,208 shares during the period. Finally, Bard Associates Inc. increased its stake in Evolution Petroleum Corp by 0.7% in the second quarter. Bard Associates Inc. now owns 406,268 shares of the energy company’s stock valued at $3,291,000 after buying an additional 2,825 shares during the period.
About Evolution Petroleum Corp
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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