Evolution Petroleum (NYSEAMERICAN:EPM) Stock Passes Below 50 Day Moving Average – What’s Next?

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.92 and traded as low as $3.59. Evolution Petroleum shares last traded at $3.61, with a volume of 258,774 shares.

Wall Street Analyst Weigh In

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

Evolution Petroleum Price Performance

The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97. The business’s 50-day simple moving average is $3.89 and its two-hundred day simple moving average is $4.21. The firm has a market cap of $125.55 million, a price-to-earnings ratio of -31.82 and a beta of 0.25.

Evolution Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.12 per share. The ex-dividend date was Monday, June 15th. This represents a $0.48 annualized dividend and a dividend yield of 13.7%. Evolution Petroleum’s dividend payout ratio is 600.08%.

Hedge Funds Weigh In On Evolution Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of EPM. Comerica Bank grew 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 worth $33,000 after acquiring an additional 6,213 shares during the period. StoneX Group Inc. acquired a new position in shares of Evolution Petroleum in the 4th quarter valued at about $36,000. Inscription Capital LLC bought a new position in shares of Evolution Petroleum during the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets boosted its stake in Evolution Petroleum by 163.4% during the third quarter. BNP Paribas Financial Markets now owns 8,194 shares of the energy company’s stock worth $39,000 after acquiring an additional 5,083 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Evolution Petroleum by 20.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,836 shares of the energy company’s stock worth $49,000 after purchasing an additional 2,340 shares in the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

About Evolution Petroleum

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.