Evolution Petroleum (NYSEAMERICAN:EPM) Shares Pass Below Fifty Day Moving Average – Here’s Why

Shares of Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.92 and traded as low as $3.59. Evolution Petroleum shares last traded at $3.61, with a volume of 258,774 shares.

Analysts Set New Price Targets

Several research firms have recently commented on EPM. Northland Securities set a $4.00 price target on shares of Evolution Petroleum in a report on Thursday, July 23rd. Freedom Capital lowered Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Zacks Research cut Evolution Petroleum from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Evolution Petroleum currently has a consensus rating of “Hold” and an average price target of $4.77.

Evolution Petroleum Stock Performance

The stock has a market cap of $129.49 million, a P/E ratio of -32.82 and a beta of 0.25. The firm’s 50-day moving average is $3.92 and its two-hundred day moving average is $4.21. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.97.

Evolution Petroleum Dividend Announcement

The firm also recently disclosed 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 13.3%. 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

Hedge funds have recently bought and sold shares of the business. Comerica Bank lifted its position in shares of Evolution Petroleum by 894.0% in the third quarter. Comerica Bank now owns 6,908 shares of the energy company’s stock worth $33,000 after buying an additional 6,213 shares during the last quarter. StoneX Group Inc. acquired a new position in shares of Evolution Petroleum during the 4th quarter valued at about $36,000. Inscription Capital LLC acquired a new position in shares of Evolution Petroleum during the 4th quarter valued at about $38,000. BNP Paribas Financial Markets raised its stake in shares of Evolution Petroleum by 163.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,194 shares of the energy company’s stock valued at $39,000 after acquiring an additional 5,083 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Evolution Petroleum by 20.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 13,836 shares of the energy company’s stock valued at $49,000 after acquiring an additional 2,340 shares in the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

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.