Freedom Broker Upgrades Evolution Petroleum (NYSEAMERICAN:EPM) to “Buy”

Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by stock analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research report issued on Tuesday, September 22nd, MarketBeat.com reports. The brokerage currently has a $4.50 price target on the energy company’s stock. Freedom Broker’s target price suggests a potential upside of 28.94% from the company’s previous close.

A number of other analysts also recently weighed in on EPM. Alliance Global Partners restated a “buy” rating on shares of Evolution Petroleum in a report on Tuesday, August 25th. Zacks Research upgraded Evolution Petroleum from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Finally, Northland Securities set a $4.25 price target on shares of Evolution Petroleum in a research report on Thursday, September 17th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.76.

Evolution Petroleum Price Performance

Shares of NYSEAMERICAN:EPM traded up $0.04 during trading on Tuesday, hitting $3.49. 314,644 shares of the company were exchanged, compared to its average volume of 438,048. The business’s 50 day moving average is $3.67 and its 200-day moving average is $4.07. The company has a market capitalization of $140.19 million, a P/E ratio of -43.63 and a beta of 0.25. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.94. Evolution Petroleum has a 1-year low of $3.19 and a 1-year high of $5.03.

Evolution Petroleum (NYSEAMERICAN:EPM) last announced its quarterly earnings results on Tuesday, September 15th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). The company had revenue of $24.21 million for the quarter, compared to analyst estimates of $23.24 million. Evolution Petroleum had a negative return on equity of 5.41% and a negative net margin of 2.81%. Equities analysts forecast that Evolution Petroleum will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Evolution Petroleum

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Evolution Petroleum by 19.6% during the 2nd quarter. Wellington Management Group LLP now owns 19,783 shares of the energy company’s stock worth $73,000 after buying an additional 3,236 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Evolution Petroleum by 11.2% during the 1st quarter. Bank of America Corp DE now owns 71,098 shares of the energy company’s stock worth $326,000 after buying an additional 7,158 shares in the last quarter. Equitable Holdings Inc. purchased a new stake in shares of Evolution Petroleum during the 2nd quarter worth approximately $37,000. Kathmere Capital Management LLC purchased a new stake in shares of Evolution Petroleum during the 1st quarter worth approximately $51,000. Finally, Chancellor Financial Group WB LP purchased a new stake in shares of Evolution Petroleum during the 2nd quarter worth approximately $54,000. Institutional investors own 60.07% of the company’s stock.

About Evolution Petroleum

Evolution Petroleum Corporation is an independent energy company engaged in the acquisition, development, and operation of oil and natural gas properties. The company focuses primarily on mature, long-life assets in the United States, with an emphasis on properties that can benefit from enhanced oil recovery, operational improvements, and additional development.

Evolution Petroleum’s flagship asset is its interest in the Delhi Field in northeastern Louisiana, where carbon dioxide is used in a miscible flood program to increase oil recovery from an established reservoir.