Evolution Petroleum (NYSEAMERICAN:EPM) Cut to “Hold” at Freedom Capital

Evolution Petroleum (NYSEAMERICAN:EPM) was downgraded by equities research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Separately, Northland Securities set a $4.50 price objective on Evolution Petroleum in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.93.

Evolution Petroleum Stock Performance

Shares of EPM opened at $4.54 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.61 and a quick ratio of 0.61. Evolution Petroleum has a one year low of $3.19 and a one year high of $5.70. The firm has a market capitalization of $162.85 million, a P/E ratio of -41.27 and a beta of 0.29. The business has a fifty day moving average of $4.56 and a 200 day moving average of $4.19.

Hedge Funds Weigh In On Evolution Petroleum

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new stake in shares of Evolution Petroleum in the first quarter worth about $91,000. Goldman Sachs Group Inc. lifted its position in shares of Evolution Petroleum by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 139,715 shares of the energy company’s stock worth $724,000 after buying an additional 27,068 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Evolution Petroleum in the first quarter worth about $102,000. Focus Partners Wealth purchased a new stake in shares of Evolution Petroleum in the first quarter worth about $70,000. Finally, Sei Investments Co. purchased a new stake in shares of Evolution Petroleum in the second quarter worth about $77,000. 60.07% of the stock is currently owned by hedge funds and other 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.