Shares of Evolution Petroleum Corp (NYSE:EPM) have been given an average rating of “Buy” by the six ratings firms that are currently covering the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.00.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. TheStreet upgraded shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Northland Securities lowered shares of Evolution Petroleum Corp from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 20th. Scotiabank restated an “outperform” rating and issued a $10.00 price target on shares of Evolution Petroleum Corp in a research note on Wednesday, October 12th. Finally, Howard Weil started coverage on shares of Evolution Petroleum Corp in a research note on Monday, October 10th. They issued a “sector outperform” rating and a $10.00 price target for the company.

A number of hedge funds have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. acquired a new stake in Evolution Petroleum Corp during the third quarter valued at $1,570,000. Raffles Associates LP raised its stake in Evolution Petroleum Corp by 296.7% in the third quarter. Raffles Associates LP now owns 133,700 shares of the company’s stock valued at $840,000 after buying an additional 100,000 shares during the last quarter. WealthTrust Axiom LLC raised its stake in Evolution Petroleum Corp by 13.2% in the third quarter. WealthTrust Axiom LLC now owns 700,935 shares of the company’s stock valued at $4,401,000 after buying an additional 81,658 shares during the last quarter. BlackRock Fund Advisors raised its stake in Evolution Petroleum Corp by 9.0% in the third quarter. BlackRock Fund Advisors now owns 691,771 shares of the company’s stock valued at $4,344,000 after buying an additional 57,221 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Evolution Petroleum Corp during the third quarter valued at $347,000.

Evolution Petroleum Corp (NYSE:EPM) traded down 0.59% during mid-day trading on Friday, hitting $8.40. 76,976 shares of the stock traded hands. The stock has a 50-day moving average of $7.78 and a 200 day moving average of $6.20. The firm has a market cap of $273.76 million and a price-to-earnings ratio of 12.77. Evolution Petroleum Corp has a 1-year low of $3.60 and a 1-year high of $8.75.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Tuesday, December 13th. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.05.

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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.

5 Day Chart for NYSE:EPM

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