Evolution Petroleum Corp (NYSE:EPM) saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 633,528 shares, an increase of 3.0% from the July 31st total of 615,273 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 58,230 shares, the short-interest ratio is currently 10.9 days.

A number of hedge funds have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC purchased a new stake in Evolution Petroleum Corp during the second quarter valued at approximately $101,000. First Quadrant L P CA purchased a new stake in Evolution Petroleum Corp during the second quarter valued at approximately $112,000. American International Group Inc. boosted its stake in Evolution Petroleum Corp by 7.1% in the first quarter. American International Group Inc. now owns 15,033 shares of the energy company’s stock valued at $120,000 after buying an additional 999 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Evolution Petroleum Corp by 14.2% in the first quarter. Nationwide Fund Advisors now owns 15,915 shares of the energy company’s stock valued at $127,000 after buying an additional 1,979 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in Evolution Petroleum Corp during the second quarter valued at approximately $133,000.

Shares of Evolution Petroleum Corp (EPM) opened at 7.00 on Wednesday. The stock has a 50 day moving average price of $7.94 and a 200 day moving average price of $7.95. Evolution Petroleum Corp has a 1-year low of $5.59 and a 1-year high of $10.20. The company has a market capitalization of $228.68 million and a price-to-earnings ratio of 8.89.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.075 dividend. This is a boost from Evolution Petroleum Corp’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 4.29%. The ex-dividend date is Thursday, September 14th.

EPM has been the subject of a number of research reports. BidaskClub raised Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Northland Securities set a $8.00 price target on Evolution Petroleum Corp and gave the company a “hold” rating in a research note on Monday. Scotiabank set a $10.00 price target on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Saturday, July 22nd. Roth Capital set a $11.00 price target on Evolution Petroleum Corp and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, Zacks Investment Research raised Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Evolution Petroleum Corp currently has a consensus rating of “Buy” and a consensus price target of $9.60.

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About Evolution Petroleum Corp

Evolution Petroleum Corporation is an independent oil and gas company. The Company is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.

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