Evolution Petroleum (EPM) Upgraded by Eurobank EFG to Buy

Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by analysts at Eurobank EFG from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $10.00 target price on the energy company’s stock. Eurobank EFG’s price target indicates a potential upside of 26.26% from the stock’s previous close.

EPM has been the topic of several other research reports. Roth Capital set a $11.00 target price on Evolution Petroleum and gave the stock a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research raised Evolution Petroleum from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Wednesday, December 20th. Finally, Northland Securities set a $7.00 target price on Evolution Petroleum and gave the stock a “hold” rating in a research report on Monday, December 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $9.15.

Evolution Petroleum (EPM) traded up $0.42 during mid-day trading on Thursday, reaching $7.92. The company’s stock had a trading volume of 38,508 shares, compared to its average volume of 78,142. The firm has a market cap of $244.68, a price-to-earnings ratio of 31.80 and a beta of 0.78. Evolution Petroleum has a 52 week low of $6.35 and a 52 week high of $9.30.

Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.19 million. Evolution Petroleum had a return on equity of 12.54% and a net margin of 25.07%. Evolution Petroleum’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS.

In other Evolution Petroleum news, CFO David Joe sold 7,110 shares of Evolution Petroleum stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $7.50, for a total transaction of $53,325.00. Following the transaction, the chief financial officer now owns 365,427 shares of the company’s stock, valued at $2,740,702.50. The transaction was disclosed in a filing with the SEC, which is available at this link.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in shares of Evolution Petroleum by 9.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 197,353 shares of the energy company’s stock valued at $1,599,000 after purchasing an additional 16,936 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Evolution Petroleum by 1.4% in 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 during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Evolution Petroleum by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 307,971 shares of the energy company’s stock valued at $2,494,000 after purchasing an additional 3,457 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Evolution Petroleum in the 2nd quarter valued at approximately $133,000. Finally, Teachers Advisors LLC grew its stake in shares of Evolution Petroleum by 15.8% in the 2nd quarter. Teachers Advisors LLC now owns 52,297 shares of the energy company’s stock valued at $424,000 after purchasing an additional 7,150 shares during the last quarter.

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About Evolution Petroleum

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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