Evolution Petroleum (EPM) Now Covered by Analysts at Johnson Rice
Johnson Rice assumed coverage on shares of Evolution Petroleum (NYSEAMERICAN:EPM) in a report released on Wednesday. The brokerage issued an accumulate rating and a $10.00 price objective on the energy company’s stock.
Several other equities analysts also recently commented on the company. Zacks Investment Research upgraded Evolution Petroleum from a hold rating to a buy rating and set a $7.50 target price for the company in a research report on Wednesday, December 20th. Northland Securities set a $7.00 target price on Evolution Petroleum and gave the company a hold rating in a research report on Monday, December 11th. Eurobank EFG upgraded Evolution Petroleum from a hold rating to a buy rating and set a $10.00 target price for the company in a research report on Thursday, February 8th. Finally, UBS upgraded Evolution Petroleum from a neutral rating to a buy rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Evolution Petroleum has an average rating of Buy and a consensus target price of $9.54.
Shares of EPM stock opened at $8.00 on Wednesday. The firm has a market capitalization of $267.82, a PE ratio of 26.67 and a beta of 0.69. Evolution Petroleum has a 12 month low of $6.35 and a 12 month high of $8.70.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.00%. This is an increase from Evolution Petroleum’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, March 14th. Evolution Petroleum’s dividend payout ratio (DPR) is 133.33%.
In related news, major shareholder Advisors L.L.C. Jvl sold 11,934 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $8.00, for a total transaction of $95,472.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Joe sold 16,666 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $8.16, for a total value of $135,994.56. Following the sale, the chief financial officer now directly owns 345,924 shares of the company’s stock, valued at approximately $2,822,739.84. The disclosure for this sale can be found here. Insiders have sold 227,932 shares of company stock valued at $1,819,937 over the last 90 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPM. Stone Ridge Asset Management LLC acquired a new stake in Evolution Petroleum in the fourth quarter valued at approximately $170,000. The Manufacturers Life Insurance Company grew its stake in Evolution Petroleum by 21.3% in the second quarter. The Manufacturers Life Insurance Company now owns 23,975 shares of the energy company’s stock valued at $194,000 after acquiring an additional 4,215 shares during the period. Wells Fargo & Company MN grew its stake in Evolution Petroleum by 53.8% in the third quarter. Wells Fargo & Company MN now owns 32,313 shares of the energy company’s stock valued at $233,000 after acquiring an additional 11,307 shares during the period. Amica Retiree Medical Trust grew its stake in Evolution Petroleum by 114.7% in the third quarter. Amica Retiree Medical Trust now owns 34,575 shares of the energy company’s stock valued at $249,000 after acquiring an additional 18,469 shares during the period. Finally, Connors Investor Services Inc. grew its stake in Evolution Petroleum by 25.3% in the fourth quarter. Connors Investor Services Inc. now owns 39,637 shares of the energy company’s stock valued at $272,000 after acquiring an additional 8,000 shares during the period.
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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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