Evolution Petroleum (NYSEAMERICAN:EPM) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.76 and traded as low as $3.25. Evolution Petroleum shares last traded at $3.34, with a volume of 4,408,428 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EPM shares. Freedom Capital cut shares of Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Northland Securities set a $4.00 price objective on shares of Evolution Petroleum in a research note on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Evolution Petroleum from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. One 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’s stock. According to MarketBeat.com, Evolution Petroleum currently has a consensus rating of “Hold” and an average target price of $4.77.

Evolution Petroleum Price Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.61 and a current ratio of 0.61. The firm’s fifty day moving average is $3.73 and its two-hundred day moving average is $4.20. The company has a market cap of $126.90 million, a P/E ratio of -32.09 and a beta of 0.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Comerica Bank grew its holdings in shares of Evolution Petroleum by 894.0% in the third 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 in the last quarter. StoneX Group Inc. purchased a new stake in Evolution Petroleum in the fourth quarter worth $36,000. Equitable Holdings Inc. bought a new stake in Evolution Petroleum during the 2nd quarter valued at about $37,000. Inscription Capital LLC purchased a new stake in shares of Evolution Petroleum in the fourth quarter valued at approximately $38,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Evolution Petroleum by 163.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,194 shares of the energy company’s stock worth $39,000 after buying an additional 5,083 shares during the period. Hedge funds and other institutional investors 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.