Zacks Investment Research upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.
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. “
EPM stock opened at $5.79 on Tuesday. Evolution Petroleum has a 12-month low of $5.53 and a 12-month high of $12.83.
Several hedge funds and other institutional investors have recently made changes to their positions in EPM. Bank of New York Mellon Corp raised its holdings in shares of Evolution Petroleum by 11.7% during the fourth quarter. Bank of New York Mellon Corp now owns 443,073 shares of the energy company’s stock valued at $3,021,000 after purchasing an additional 46,326 shares during the period. Advisor Group Inc. raised its holdings in shares of Evolution Petroleum by 45.5% during the fourth quarter. Advisor Group Inc. now owns 4,802 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,502 shares during the period. Northern Trust Corp raised its holdings in shares of Evolution Petroleum by 4.8% during the fourth quarter. Northern Trust Corp now owns 383,047 shares of the energy company’s stock valued at $2,613,000 after purchasing an additional 17,626 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Evolution Petroleum by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,142,562 shares of the energy company’s stock valued at $7,793,000 after purchasing an additional 71,861 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Evolution Petroleum by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 291,904 shares of the energy company’s stock worth $1,990,000 after acquiring an additional 28,095 shares in the last quarter.
Evolution Petroleum Company Profile
Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.
Featured Article: CD Ladder
Get a free copy of the Zacks research report on Evolution Petroleum (EPM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Evolution Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolution Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.