Evolution Petroleum (NYSEAMERICAN:EPM) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.07 and traded as high as $4.77. Evolution Petroleum shares last traded at $4.69, with a volume of 413,689 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Zacks Research raised shares of Evolution Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Loop Capital set a $5.30 price target on Evolution Petroleum in a research report on Tuesday, December 23rd. Roth Mkm began coverage on Evolution Petroleum in a research note on Thursday, December 4th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Freedom Capital raised Evolution Petroleum to a “strong-buy” rating in a report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Evolution Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Evolution Petroleum Price Performance

The stock has a market capitalization of $164.15 million, a PE ratio of 58.63 and a beta of 0.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average is $4.07 and its 200-day moving average is $4.32.

Evolution Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 10.2%. The ex-dividend date is Monday, March 16th. Evolution Petroleum’s payout ratio is currently 600.08%.

Hedge Funds Weigh In On Evolution Petroleum

Hedge funds have recently bought and sold shares of the business. WealthTrust Axiom LLC raised its stake in shares of Evolution Petroleum by 9.4% during the 4th quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock worth $6,898,000 after buying an additional 166,624 shares during the period. Vanguard Group Inc. increased its holdings in Evolution Petroleum by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,600,822 shares of the energy company’s stock worth $7,716,000 after acquiring an additional 5,101 shares in the last quarter. Ranger Investment Management L.P. increased its holdings in Evolution Petroleum by 7.4% in the 2nd quarter. Ranger Investment Management L.P. now owns 1,146,350 shares of the energy company’s stock worth $5,388,000 after acquiring an additional 79,280 shares in the last quarter. American Century Companies Inc. raised its position in Evolution Petroleum by 14.2% during the second quarter. American Century Companies Inc. now owns 855,498 shares of the energy company’s stock worth $4,021,000 after acquiring an additional 106,056 shares during the period. Finally, Geode Capital Management LLC raised its position in Evolution Petroleum by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 756,703 shares of the energy company’s stock worth $2,679,000 after acquiring an additional 29,101 shares during the period. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Evolution Petroleum Company Profile

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.