Evolution Petroleum (NYSEAMERICAN:EPM) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a sell rating to a hold rating in a research report released on Monday, 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 reaffirmed a hold rating and issued a $8.00 price objective on shares of Evolution Petroleum in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $8.94.



Shares of NYSEAMERICAN EPM opened at $6.71 on Monday. Evolution Petroleum has a 52 week low of $5.99 and a 52 week high of $12.83.

Evolution Petroleum (NYSEAMERICAN:EPM) last issued its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $9.94 million.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.96%.

A number of large investors have recently added to or reduced their stakes in EPM. Advisor Group Inc. lifted its holdings in Evolution Petroleum by 45.5% during the 4th quarter. Advisor Group Inc. now owns 4,802 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,502 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Evolution Petroleum by 59,111.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,329 shares of the energy company’s stock worth $36,000 after purchasing an additional 5,320 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Evolution Petroleum during the 4th quarter worth approximately $73,000. Meeder Asset Management Inc. lifted its holdings in Evolution Petroleum by 35.6% during the 1st quarter. Meeder Asset Management Inc. now owns 14,903 shares of the energy company’s stock worth $99,000 after purchasing an additional 3,912 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in Evolution Petroleum during the 4th quarter worth approximately $125,000.

About Evolution Petroleum

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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