Zacks Investment Research Downgrades Evolution Petroleum Corp (EPM) to Sell

Zacks Investment Research lowered shares of Evolution Petroleum Corp (NYSE:EPM) from a hold rating to a sell rating in a research note released on Monday morning.

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. “

Several other research firms have also commented on EPM. Roth Capital set a $11.00 price objective on shares of Evolution Petroleum Corp and gave the stock a buy rating in a research note on Monday, May 22nd. Scotiabank set a $10.00 price objective on shares of Evolution Petroleum Corp and gave the stock a buy rating in a research note on Saturday, July 22nd. BidaskClub lowered shares of Evolution Petroleum Corp from a buy rating to a hold rating in a research note on Tuesday, July 25th. Finally, Northland Securities set a $8.00 price objective on shares of Evolution Petroleum Corp and gave the stock a hold rating in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $9.60.

Evolution Petroleum Corp (NYSE EPM) traded up 0.72% during midday trading on Monday, hitting $6.95. 53,965 shares of the stock were exchanged. The firm’s 50 day moving average price is $7.51 and its 200 day moving average price is $7.82. Evolution Petroleum Corp has a 12 month low of $5.87 and a 12 month high of $10.20. The company has a market cap of $229.85 million and a PE ratio of 33.74.

Evolution Petroleum Corp (NYSE:EPM) last posted its quarterly earnings data on Wednesday, September 6th. The energy company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $8.84 million for the quarter, compared to the consensus estimate of $9.52 million. Evolution Petroleum Corp had a return on equity of 14.11% and a net margin of 25.40%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. On average, equities research analysts forecast that Evolution Petroleum Corp will post $0.33 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.075 per share. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a yield of 4.35%.

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers increased its stake in Evolution Petroleum Corp by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 27,341 shares of the energy company’s stock valued at $221,000 after purchasing an additional 365 shares in the last quarter. American International Group Inc. increased its stake in Evolution Petroleum Corp by 7.1% during the 1st quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock valued at $120,000 after purchasing an additional 999 shares in the last quarter. Connors Investor Services Inc. increased its stake in Evolution Petroleum Corp by 5.5% during the 2nd quarter. Connors Investor Services Inc. now owns 31,637 shares of the energy company’s stock valued at $256,000 after purchasing an additional 1,637 shares in the last quarter. Nationwide Fund Advisors increased its stake in Evolution Petroleum Corp by 14.2% during the 1st quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock valued at $127,000 after purchasing an additional 1,979 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its stake in Evolution Petroleum Corp by 7.9% during the 2nd quarter. Chicago Equity Partners LLC now owns 31,670 shares of the energy company’s stock valued at $257,000 after purchasing an additional 2,320 shares in the last quarter.

Evolution Petroleum Corp Company Profile

Evolution Petroleum Corporation is an independent oil and gas company. The Company is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.

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