Evolution Petroleum (NYSEAMERICAN:EPM) Lowered to “Hold” Rating by Freedom Capital

Freedom Capital lowered shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Separately, Northland Securities set a $4.50 price objective on Evolution Petroleum in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.93.

Evolution Petroleum Stock Down 4.0%

EPM stock opened at $4.54 on Wednesday. Evolution Petroleum has a twelve month low of $3.19 and a twelve month high of $5.70. The company has a market cap of $162.85 million, a PE ratio of -41.27 and a beta of 0.29. The business’s 50-day simple moving average is $4.56 and its 200 day simple moving average is $4.19. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.97.

Evolution Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.6%. Evolution Petroleum’s dividend payout ratio is presently 600.08%.

Hedge Funds Weigh In On Evolution Petroleum

Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank lifted its holdings in Evolution Petroleum by 894.0% during the 3rd quarter. Comerica Bank now owns 6,908 shares of the energy company’s stock valued at $33,000 after purchasing an additional 6,213 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Evolution Petroleum by 163.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,194 shares of the energy company’s stock valued at $39,000 after purchasing an additional 5,083 shares during the last quarter. StoneX Group Inc. acquired a new position in shares of Evolution Petroleum in the 4th quarter worth approximately $36,000. Inscription Capital LLC bought a new stake in Evolution Petroleum during the 4th quarter worth approximately $38,000. Finally, Franklin Resources Inc. bought a new stake in Evolution Petroleum during the 3rd quarter worth approximately $53,000. 60.07% of the stock is owned by institutional investors.

Evolution Petroleum Company Profile

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 CO? injection to increase production efficiency. Evolution Petroleum’s business model combines property acquisition, reservoir engineering, and CO? management to optimize recovery of oil and associated gas.

The company’s primary asset is the Jackson Dome CO? field in southwestern Mississippi, where natural carbon dioxide is produced, separated and reinjected into adjacent oil-bearing formations.