Evolution Petroleum Corp (NYSE:EPM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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 analysts also recently issued research reports about the stock. BidaskClub raised shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Scotiabank set a $10.00 price target on shares of Evolution Petroleum Corp and gave the company a “buy” rating in a report on Saturday, July 22nd. Roth Capital set a $11.00 price target on shares of Evolution Petroleum Corp and gave the company 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 company 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. The stock has a consensus rating of “Hold” and a consensus price target of $9.60.

Shares of Evolution Petroleum Corp (NYSE:EPM) traded up 2.26% on Monday, reaching $6.80. 44,264 shares of the company were exchanged. Evolution Petroleum Corp has a 52-week low of $5.79 and a 52-week high of $10.20. The stock has a 50 day moving average of $7.63 and a 200-day moving average of $7.87. The company has a market capitalization of $222.14 million and a P/E ratio of 8.64.

Evolution Petroleum Corp (NYSE:EPM) last issued its earnings results on Wednesday, September 6th. The energy company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.02. Evolution Petroleum Corp had a return on equity of 14.11% and a net margin of 25.40%. The company had revenue of $8.84 million for the quarter, compared to analyst estimates of $9.52 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, analysts predict that Evolution Petroleum Corp will post $0.33 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in EPM. Virtu KCG Holdings LLC purchased a new stake in shares of Evolution Petroleum Corp in the second quarter valued at about $101,000. First Quadrant L P CA purchased a new position in shares of Evolution Petroleum Corp during the second quarter valued at approximately $112,000. American International Group Inc. lifted its stake in shares of Evolution Petroleum Corp by 7.1% during the first quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock valued at $120,000 after buying an additional 999 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Evolution Petroleum Corp by 14.2% during the first quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock valued at $127,000 after buying an additional 1,979 shares during the period. Finally, Alliancebernstein L.P. purchased a new position in shares of Evolution Petroleum Corp during the second quarter valued at approximately $133,000.

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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