Evolution Petroleum (NYSEAMERICAN:EPM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They presently have a $7.75 price target on the energy company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.15% from the company’s previous close.
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. “
EPM has been the topic of several other research reports. Roth Capital set a $11.00 target price on Evolution Petroleum and gave the company a “buy” rating in a research report on Friday, October 20th. Northland Securities set a $7.00 target price on Evolution Petroleum and gave the company a “hold” rating in a research report on Monday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.94.
Evolution Petroleum (NYSEAMERICAN:EPM) last announced its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Evolution Petroleum had a return on equity of 12.54% and a net margin of 25.07%. The company had revenue of $8.54 million for the quarter, compared to analysts’ expectations of $8.19 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Evolution Petroleum’s revenue was up 12.5% compared to the same quarter last year.
In related news, CFO David Joe sold 7,110 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $7.50, for a total value of $53,325.00. Following the completion of the transaction, the chief financial officer now owns 365,427 shares in the company, valued at approximately $2,740,702.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu KCG Holdings LLC purchased a new position in shares of Evolution Petroleum during the 2nd quarter valued at about $101,000. Alliancebernstein L.P. purchased a new position in shares of Evolution Petroleum in the 2nd quarter valued at about $133,000. The Manufacturers Life Insurance Company increased its stake in shares of Evolution Petroleum by 21.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,975 shares of the energy company’s stock valued at $194,000 after purchasing an additional 4,215 shares in the last quarter. First Quadrant L P CA increased its stake in shares of Evolution Petroleum by 93.7% in the 3rd quarter. First Quadrant L P CA now owns 26,706 shares of the energy company’s stock valued at $192,000 after purchasing an additional 12,917 shares in the last quarter. Finally, Rhumbline Advisers increased 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 in the last quarter.
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Evolution Petroleum 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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