Evolution Petroleum (NYSEAMERICAN:EPM) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.84 and traded as low as $3.71. Evolution Petroleum shares last traded at $3.77, with a volume of 208,098 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Freedom Capital downgraded shares of Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Zacks Research downgraded Evolution Petroleum from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Northland Securities set a $4.00 target price on Evolution Petroleum in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.77.

Evolution Petroleum Stock Performance

The business’s 50 day simple moving average is $3.84 and its two-hundred day simple moving average is $4.21. The firm has a market capitalization of $135.23 million, a PE ratio of -34.27 and a beta of 0.25. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97.

Hedge Funds Weigh In On Evolution Petroleum

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Evolution Petroleum during the 2nd quarter valued at $8,894,000. Rothschild Wealth LLC bought a new position in Evolution Petroleum in the 4th quarter worth $617,000. WealthTrust Axiom LLC lifted its position in Evolution Petroleum by 9.4% during the fourth quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock valued at $6,898,000 after purchasing an additional 166,624 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Evolution Petroleum by 30.9% in the second quarter. Raymond James Financial Inc. now owns 468,620 shares of the energy company’s stock worth $2,203,000 after buying an additional 110,687 shares during the period. Finally, UBS Group AG lifted its position in shares of Evolution Petroleum by 23.2% during the 3rd quarter. UBS Group AG now owns 469,692 shares of the energy company’s stock valued at $2,264,000 after buying an additional 88,575 shares in the last quarter. Institutional investors own 60.07% of the company’s stock.

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.