Evolution Petroleum (NYSEAMERICAN:EPM) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.33 and traded as low as $3.63. Evolution Petroleum shares last traded at $3.64, with a volume of 361,588 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Freedom Capital lowered Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Northland Securities set a $4.50 target price on shares of Evolution Petroleum in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.93.

Evolution Petroleum Stock Down 1.1%

The stock’s 50 day moving average price is $4.33 and its 200-day moving average price is $4.18. The company has a market cap of $130.57 million, a PE ratio of -33.09 and a beta of 0.23. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.61 and a current ratio of 0.61.

Evolution Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 13.2%. The ex-dividend date of this dividend was Monday, June 15th. Evolution Petroleum’s payout ratio is presently 600.08%.

Hedge Funds Weigh In On Evolution Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of EPM. WealthTrust Axiom LLC grew its stake in shares of Evolution Petroleum by 9.4% in the fourth quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock worth $6,898,000 after purchasing an additional 166,624 shares during the last quarter. Comerica Bank raised its position in Evolution Petroleum by 894.0% during the 3rd quarter. Comerica Bank now owns 6,908 shares of the energy company’s stock valued at $33,000 after purchasing an additional 6,213 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Evolution Petroleum by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,453,218 shares of the energy company’s stock valued at $6,656,000 after purchasing an additional 32,641 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Evolution Petroleum in the 1st quarter worth approximately $75,000. Finally, Castleview Partners LLC lifted its stake in Evolution Petroleum by 21.7% in the first quarter. Castleview Partners LLC now owns 95,300 shares of the energy company’s stock worth $436,000 after acquiring an additional 17,000 shares during the period. 60.07% of the stock is owned by institutional investors.

About Evolution Petroleum

Evolution Petroleum Corporation (NYSE American: EPM) is an independent oil and natural gas company focused on enhanced oil recovery (EOR) through the use of carbon dioxide. Headquartered in Houston, Texas, the company specializes in acquiring and developing mature hydrocarbon reservoirs that benefit from CO₂ injection to increase production efficiency. Evolution Petroleum’s business model combines property acquisition, reservoir engineering, and CO₂ management to optimize recovery of oil and associated gas.

The company’s primary asset is the Jackson Dome CO₂ field in southwestern Mississippi, where natural carbon dioxide is produced, separated and reinjected into adjacent oil-bearing formations.