Short Interest in Evolution Petroleum Corp (EPM) Declines By 1.7%
Evolution Petroleum Corp (NYSE:EPM) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 615,273 shares, a drop of 1.7% from the July 14th total of 625,822 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 67,532 shares, the short-interest ratio is presently 9.1 days.
A number of hedge funds have recently added to or reduced their stakes in EPM. Virtu KCG Holdings LLC bought a new stake in Evolution Petroleum Corp during the second quarter worth approximately $101,000. First Quadrant L P CA bought a new stake in Evolution Petroleum Corp during the second quarter worth approximately $112,000. American International Group Inc. increased its stake in Evolution Petroleum Corp by 7.1% in the first quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock worth $120,000 after buying an additional 999 shares in the last quarter. Nationwide Fund Advisors increased its stake in Evolution Petroleum Corp by 14.2% in the first quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock worth $127,000 after buying an additional 1,979 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new stake in Evolution Petroleum Corp during the second quarter worth approximately $133,000.
EPM has been the topic of several analyst reports. Zacks Investment Research downgraded Evolution Petroleum Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Roth Capital set a $11.00 price target on Evolution Petroleum Corp and gave the stock a “buy” rating in a research report on Monday, May 22nd. Scotiabank set a $10.00 price target on Evolution Petroleum Corp and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, BidaskClub downgraded Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $10.00.
Evolution Petroleum Corp (EPM) opened at 7.70 on Tuesday. Evolution Petroleum Corp has a 52 week low of $5.21 and a 52 week high of $10.20. The stock has a market capitalization of $251.54 million and a price-to-earnings ratio of 9.78. The company has a 50-day moving average of $8.08 and a 200-day moving average of $8.02.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a yield of 3.90%. This is an increase from Evolution Petroleum Corp’s previous quarterly dividend of $0.07.
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Evolution Petroleum Corp 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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