Evolution Petroleum (EPM) Upgraded to Buy by Eurobank EFG

Eurobank EFG upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a hold rating to a buy rating in a research note released on Thursday, February 8th, MarketBeat reports. They currently have $10.00 price objective on the energy company’s stock.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Evolution Petroleum from a buy rating to a hold rating in a report on Tuesday, January 9th. Roth Capital set a $11.00 price objective on Evolution Petroleum and gave the company a buy rating in a report on Friday, October 20th. Finally, Northland Securities set a $7.00 price objective on Evolution Petroleum and gave the company a hold rating in a report on Monday, December 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Evolution Petroleum has an average rating of Buy and a consensus target price of $9.15.

Shares of Evolution Petroleum (NYSEAMERICAN EPM) traded down $0.20 during mid-day trading on Thursday, hitting $7.80. The company had a trading volume of 19,860 shares, compared to its average volume of 81,892. Evolution Petroleum has a fifty-two week low of $6.35 and a fifty-two week high of $9.30. The company has a market capitalization of $264.51, a PE ratio of 16.67 and a beta of 0.78.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 5.13%. This is a boost from Evolution Petroleum’s previous quarterly dividend of $0.08. Evolution Petroleum’s dividend payout ratio is 62.50%.

In other news, CFO David Joe sold 16,666 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $8.16, for a total transaction of $135,994.56. Following the transaction, the chief financial officer now owns 345,924 shares of the company’s stock, valued at approximately $2,822,739.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Several hedge funds have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC lifted its position in Evolution Petroleum by 5.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,489,883 shares of the energy company’s stock valued at $17,056,000 after acquiring an additional 137,459 shares in the last quarter. Vanguard Group Inc. lifted its position in Evolution Petroleum by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,232,494 shares of the energy company’s stock valued at $9,983,000 after acquiring an additional 44,569 shares in the last quarter. Renaissance Technologies LLC lifted its position in Evolution Petroleum by 7.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,155,400 shares of the energy company’s stock valued at $7,914,000 after acquiring an additional 80,800 shares in the last quarter. WealthTrust Axiom LLC lifted its position in Evolution Petroleum by 1.8% in the 4th quarter. WealthTrust Axiom LLC now owns 649,355 shares of the energy company’s stock valued at $4,448,000 after acquiring an additional 11,611 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Evolution Petroleum by 20.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 627,699 shares of the energy company’s stock valued at $4,519,000 after acquiring an additional 106,018 shares in the last quarter.

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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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