Evolution Petroleum Corp (NYSE:EPM)‘s stock had its “outperform” rating restated by equities researchers at Scotiabank in a report issued on Wednesday. They presently have a $10.00 price objective on the stock. Scotiabank’s target price would suggest a potential upside of 31.58% from the company’s previous close.

Several other equities research analysts have also commented on EPM. Roth Capital reiterated a “buy” rating on shares of Evolution Petroleum Corp in a research report on Tuesday, July 12th. Zacks Investment Research lowered shares of Evolution Petroleum Corp from a “buy” rating to a “sell” rating in a research report on Wednesday, July 6th. Howard Weil assumed coverage on shares of Evolution Petroleum Corp in a research report on Monday. They issued a “sector outperform” rating and a $10.00 price objective on the stock. Finally, TheStreet upgraded shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $8.92.

Evolution Petroleum Corp (NYSE:EPM) traded up 2.11% during trading on Wednesday, reaching $7.76. 45,184 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $6.27 and a 200 day moving average price of $5.62. The firm has a market capitalization of $252.21 million and a price-to-earnings ratio of 10.63. Evolution Petroleum Corp has a 52 week low of $3.60 and a 52 week high of $8.48.

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, September 13th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Numeric Investors LLC purchased a new position in shares of Evolution Petroleum Corp during the second quarter valued at $103,000. Rhumbline Advisers increased its position in shares of Evolution Petroleum Corp by 38.2% in the second quarter. Rhumbline Advisers now owns 32,465 shares of the company’s stock valued at $178,000 after buying an additional 8,976 shares during the last quarter. Strs Ohio increased its position in shares of Evolution Petroleum Corp by 15.2% in the second quarter. Strs Ohio now owns 66,700 shares of the company’s stock valued at $364,000 after buying an additional 8,800 shares during the last quarter. BlackRock Investment Management LLC increased its position in shares of Evolution Petroleum Corp by 7.9% in the second quarter. BlackRock Investment Management LLC now owns 88,576 shares of the company’s stock valued at $485,000 after buying an additional 6,493 shares during the last quarter. Finally, Allianz Asset Management AG increased its position in shares of Evolution Petroleum Corp by 44.6% in the second quarter. Allianz Asset Management AG now owns 164,669 shares of the company’s stock valued at $901,000 after buying an additional 50,803 shares during the last quarter.

Evolution Petroleum Corp Company Profile

Evolution Petroleum Corporation is an independent petroleum 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. The Company focuses on applying artificial lift technology called Gas Assisted Rod Pump (GARP) for recovering incremental oil and gas from existing wells.

5 Day Chart for NYSE:EPM

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