Evolution Petroleum (NYSEAMERICAN:EPM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Separately, Northland Securities restated a “hold” rating and issued a $6.50 target price on shares of Evolution Petroleum in a research note on Monday.

Evolution Petroleum stock traded down $0.37 during mid-day trading on Wednesday, hitting $5.97. 283,900 shares of the company were exchanged, compared to its average volume of 145,644. Evolution Petroleum has a 1-year low of $5.53 and a 1-year high of $12.83.

Evolution Petroleum (NYSEAMERICAN:EPM) last announced its earnings results on Wednesday, September 11th. The energy company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. The business had revenue of $10.37 million during the quarter, compared to analyst estimates of $10.39 million.

Institutional investors have recently bought and sold shares of the stock. Amica Retiree Medical Trust boosted its holdings in Evolution Petroleum by 175.1% in the second quarter. Amica Retiree Medical Trust now owns 79,389 shares of the energy company’s stock valued at $568,000 after acquiring an additional 50,532 shares during the last quarter. Strs Ohio boosted its holdings in Evolution Petroleum by 7.5% during the second quarter. Strs Ohio now owns 75,800 shares of the energy company’s stock worth $541,000 after buying an additional 5,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Evolution Petroleum by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,142,562 shares of the energy company’s stock worth $7,793,000 after buying an additional 71,861 shares during the last quarter. Foundry Partners LLC boosted its holdings in Evolution Petroleum by 14.0% during the second quarter. Foundry Partners LLC now owns 514,715 shares of the energy company’s stock worth $3,680,000 after buying an additional 63,075 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in Evolution Petroleum by 25.7% during the first quarter. Punch & Associates Investment Management Inc. now owns 492,093 shares of the energy company’s stock worth $3,322,000 after buying an additional 100,636 shares during the last quarter.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.

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