Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, March 6th. The brokerage presently has a $9.00 price target on the energy company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.11% from the stock’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. “
Other equities research analysts have also issued research reports about the company. Eurobank EFG raised Evolution Petroleum from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report 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 price target 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 assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $9.45.
Evolution Petroleum (NYSEAMERICAN:EPM) last announced its quarterly earnings results on Wednesday, February 7th. The energy company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Evolution Petroleum had a return on equity of 21.51% and a net margin of 35.03%. The firm had revenue of $11.07 million for the quarter, compared to analysts’ expectations of $10.66 million.
In other Evolution Petroleum news, CFO David Joe sold 16,666 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $8.16, for a total transaction of $135,994.56. Following the sale, the chief financial officer now owns 345,924 shares in the company, valued at $2,822,739.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Advisors L.L.C. Jvl sold 18,440 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $8.20, for a total value of $151,208.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,545 shares of company stock valued at $1,329,240.
Large investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Evolution Petroleum by 16.9% in the second quarter. State Street Corp now owns 437,746 shares of the energy company’s stock worth $3,548,000 after purchasing an additional 63,208 shares during the last quarter. Amica Pension Fund Board of Trustees grew its stake in shares of Evolution Petroleum by 114.8% in the third quarter. Amica Pension Fund Board of Trustees now owns 227,080 shares of the energy company’s stock worth $1,635,000 after purchasing an additional 121,385 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Evolution Petroleum by 53.8% in the third quarter. Wells Fargo & Company MN now owns 32,313 shares of the energy company’s stock worth $233,000 after purchasing an additional 11,307 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Evolution Petroleum by 26.2% in the third quarter. Allianz Asset Management GmbH now owns 395,826 shares of the energy company’s stock worth $2,850,000 after purchasing an additional 82,213 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Evolution Petroleum by 3.8% during 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.
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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