Penn Mutual Asset Management LLC Purchases 104,299 Shares of Evolution Petroleum Co. (NYSEAMERICAN:EPM)

Penn Mutual Asset Management LLC raised its stake in Evolution Petroleum Co. (NYSEAMERICAN:EPM) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 700,053 shares of the energy company’s stock after purchasing an additional 104,299 shares during the period. Evolution Petroleum accounts for 3.1% of Penn Mutual Asset Management LLC’s holdings, making the stock its 10th biggest holding. Penn Mutual Asset Management LLC’s holdings in Evolution Petroleum were worth $4,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new stake in Evolution Petroleum in the fourth quarter valued at $27,000. Ritholtz Wealth Management increased its stake in Evolution Petroleum by 49.5% in the fourth quarter. Ritholtz Wealth Management now owns 15,714 shares of the energy company’s stock valued at $91,000 after purchasing an additional 5,206 shares in the last quarter. Mutual Advisors LLC bought a new stake in Evolution Petroleum in the third quarter valued at $114,000. PNC Financial Services Group Inc. increased its stake in Evolution Petroleum by 10.9% in the third quarter. PNC Financial Services Group Inc. now owns 22,404 shares of the energy company’s stock valued at $153,000 after purchasing an additional 2,207 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Evolution Petroleum by 82.7% during the third quarter. Victory Capital Management Inc. now owns 27,099 shares of the energy company’s stock worth $185,000 after acquiring an additional 12,265 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EPM has been the subject of several recent research reports. StockNews.com downgraded shares of Evolution Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Roth Mkm reissued a “buy” rating and set a $8.25 target price on shares of Evolution Petroleum in a research report on Thursday, April 4th.

Evolution Petroleum Trading Down 0.6 %

Shares of NYSEAMERICAN:EPM traded down $0.03 during midday trading on Friday, hitting $5.34. 211,965 shares of the company’s stock were exchanged, compared to its average volume of 284,950. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $178.14 million, a PE ratio of 66.76 and a beta of 0.88. Evolution Petroleum Co. has a 12 month low of $5.00 and a 12 month high of $10.11.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results on Tuesday, May 7th. The energy company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Evolution Petroleum had a net margin of 3.64% and a return on equity of 4.19%. The business had revenue of $23.03 million for the quarter, compared to analysts’ expectations of $22.62 million. As a group, equities research analysts expect that Evolution Petroleum Co. will post 0.16 EPS for the current fiscal year.

Evolution Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 8.99%. The ex-dividend date is Friday, June 14th. Evolution Petroleum’s dividend payout ratio (DPR) is presently 600.08%.

Evolution Petroleum Company Profile

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