Evolution Petroleum (EPM) Stock Rating Upgraded by Zacks Investment Research

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 currently has a $8.75 target price on the energy company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.06% from the company’s current price.

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. “

Several other research firms have also commented on EPM. Eurobank EFG upgraded Evolution Petroleum from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday, February 8th. UBS Group upgraded Evolution Petroleum from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Northland Securities set a $7.00 target price on Evolution Petroleum and gave the company a “hold” rating in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Evolution Petroleum has an average rating of “Buy” and a consensus target price of $9.35.

Evolution Petroleum (NYSEAMERICAN EPM) opened at $7.95 on Wednesday. Evolution Petroleum has a 1-year low of $6.35 and a 1-year high of $9.10. The firm has a market capitalization of $257.90, a price-to-earnings ratio of 26.00 and a beta of 0.78.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its earnings results on Wednesday, February 7th. The energy company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $11.07 million during the quarter, compared to analyst estimates of $10.66 million. Evolution Petroleum had a return on equity of 12.54% and a net margin of 25.07%.

In other Evolution Petroleum news, major shareholder Advisors L.L.C. Jvl sold 13,793 shares of the company’s stock in a transaction dated Friday, December 7th. The stock was sold at an average price of $6.79, for a total transaction of $93,654.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Joe sold 16,666 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $8.16, for a total value of $135,994.56. Following the sale, the chief financial officer now owns 345,924 shares of the company’s stock, valued at $2,822,739.84. The disclosure for this sale can be found here. Insiders sold 90,536 shares of company stock valued at $703,037 over the last quarter.

A number of large investors have recently made changes to their positions in EPM. ArrowMark Colorado Holdings LLC boosted its position in shares of Evolution Petroleum by 5.8% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,489,883 shares of the energy company’s stock worth $17,056,000 after buying an additional 137,459 shares during the period. Vanguard Group Inc. boosted its position in shares of Evolution Petroleum by 3.8% in the second quarter. Vanguard Group Inc. now owns 1,232,494 shares of the energy company’s stock worth $9,983,000 after buying an additional 44,569 shares during the period. Renaissance Technologies LLC boosted its position in shares of Evolution Petroleum by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,155,400 shares of the energy company’s stock worth $7,914,000 after buying an additional 80,800 shares during the period. WealthTrust Axiom LLC boosted its position in shares of Evolution Petroleum by 1.8% in the fourth quarter. WealthTrust Axiom LLC now owns 649,355 shares of the energy company’s stock worth $4,448,000 after buying an additional 11,611 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Evolution Petroleum by 20.3% in the third quarter. Dimensional Fund Advisors LP now owns 627,699 shares of the energy company’s stock worth $4,519,000 after buying an additional 106,018 shares during the period.

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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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