Evolution Petroleum (EPM) Rating Increased to Buy at Zacks Investment Research

Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has a $7.75 price target on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.31% from the stock’s current price.

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 equities research analysts also recently issued reports on EPM. Roth Capital raised shares of Evolution Petroleum from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $10.50 to $10.00 in a research note on Monday, February 11th. Northland Securities reaffirmed a “hold” rating and set a $8.00 price target on shares of Evolution Petroleum in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $8.94.

Evolution Petroleum stock traded down $0.18 during midday trading on Wednesday, hitting $6.78. 159,900 shares of the stock were exchanged, compared to its average volume of 163,956. Evolution Petroleum has a 1 year low of $6.17 and a 1 year high of $12.83.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results on Wednesday, February 6th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). The company had revenue of $11.05 million for the quarter, compared to analysts’ expectations of $12.70 million.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its position in shares of Evolution Petroleum by 45.5% in the 4th quarter. Advisor Group Inc. now owns 4,802 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,502 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Evolution Petroleum in the 4th quarter worth about $73,000. Nisa Investment Advisors LLC increased its position in shares of Evolution Petroleum by 841.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,860 shares of the energy company’s stock worth $81,000 after purchasing an additional 10,600 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Evolution Petroleum by 35.6% in the 1st quarter. Meeder Asset Management Inc. now owns 14,903 shares of the energy company’s stock worth $99,000 after purchasing an additional 3,912 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Evolution Petroleum in the 4th quarter worth about $125,000.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.

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