Evolution Petroleum Corp (EPM) Rating Lowered to Sell at Zacks Investment Research

Evolution Petroleum Corp (NYSE:EPM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

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 stock. Scotiabank set a $10.00 price target on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a report on Saturday, July 22nd. BidaskClub raised shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Roth Capital set a $11.00 price target on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a report on Monday, May 22nd. Finally, Northland Securities set a $8.00 price target on shares of Evolution Petroleum Corp and gave the stock a “hold” rating in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.60.

Evolution Petroleum Corp (NYSE:EPM) opened at 6.85 on Monday. The firm has a market cap of $223.78 million and a price-to-earnings ratio of 8.70. The company has a 50-day moving average of $7.60 and a 200 day moving average of $7.85. Evolution Petroleum Corp has a 12-month low of $5.79 and a 12-month high of $10.20.

Evolution Petroleum Corp (NYSE:EPM) last announced its quarterly earnings results on Wednesday, September 6th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $8.84 million during the quarter, compared to the consensus estimate of $9.52 million. Evolution Petroleum Corp had a return on equity of 14.11% and a net margin of 25.40%. Evolution Petroleum Corp’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. Equities analysts expect that Evolution Petroleum Corp will post $0.33 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in EPM. Vanguard Group Inc. lifted its position in shares of Evolution Petroleum Corp by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,232,494 shares of the energy company’s stock worth $9,983,000 after purchasing an additional 44,569 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Evolution Petroleum Corp by 29.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 521,681 shares of the energy company’s stock worth $4,226,000 after purchasing an additional 117,380 shares during the period. State Street Corp lifted its position in shares of Evolution Petroleum Corp by 16.9% in the 2nd 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 period. Bard Associates Inc. lifted its position in shares of Evolution Petroleum Corp by 0.7% in the 2nd quarter. Bard Associates Inc. now owns 406,268 shares of the energy company’s stock worth $3,291,000 after purchasing an additional 2,825 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Evolution Petroleum Corp by 18.3% in the 2nd quarter. Northern Trust Corp now owns 380,506 shares of the energy company’s stock worth $3,083,000 after purchasing an additional 58,964 shares during the period.

About Evolution Petroleum Corp

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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