Zacks Investment Research Upgrades Evolution Petroleum (EPM) to “Buy”
Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $7.50 target price on the energy company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 4.90% from the stock’s previous close.
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 equities research analysts have also weighed in on EPM. Northland Securities set a $8.00 target price on shares of Evolution Petroleum and gave the stock a “hold” rating in a report on Monday, August 28th. Roth Capital set a $11.00 target price on shares of Evolution Petroleum and gave the stock a “buy” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Evolution Petroleum presently has an average rating of “Buy” and a consensus target price of $8.88.
Shares of Evolution Petroleum (NYSEAMERICAN EPM) opened at $7.15 on Wednesday. Evolution Petroleum has a fifty-two week low of $6.35 and a fifty-two week high of $10.20.
Evolution Petroleum (NYSEAMERICAN:EPM) last posted its earnings results on Wednesday, November 8th. The energy company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Evolution Petroleum had a net margin of 16.99% and a return on equity of 8.76%. The company had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.19 million. During the same quarter in the prior year, the business posted $0.02 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year.
In other Evolution Petroleum news, CFO David Joe sold 7,110 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $7.50, for a total value of $53,325.00. Following the completion of the sale, the chief financial officer now owns 365,427 shares in the company, valued at approximately $2,740,702.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Large investors have recently bought and sold shares of the business. AJO LP bought a new position in shares of Evolution Petroleum during the 2nd quarter valued at approximately $2,158,000. Amica Mutual Insurance Co. grew its position in shares of Evolution Petroleum by 114.0% during the 3rd quarter. Amica Mutual Insurance Co. now owns 308,057 shares of the energy company’s stock valued at $2,218,000 after acquiring an additional 164,097 shares during the period. Amica Pension Fund Board of Trustees grew its position in shares of Evolution Petroleum by 114.8% during the 3rd quarter. Amica Pension Fund Board of Trustees now owns 227,080 shares of the energy company’s stock valued at $1,635,000 after acquiring an additional 121,385 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Evolution Petroleum by 29.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 521,681 shares of the energy company’s stock valued at $4,226,000 after acquiring an additional 117,380 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of Evolution Petroleum by 26.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 395,826 shares of the energy company’s stock valued at $2,850,000 after acquiring an additional 82,213 shares during the period.
Evolution Petroleum 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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