Evolution Petroleum (EPM) Given a $7.00 Price Target at Northland Securities
Evolution Petroleum (NYSEAMERICAN:EPM) has been given a $7.00 price target by investment analysts at Northland Securities in a research note issued to investors on Monday. The firm presently has a “hold” rating on the energy company’s stock. Northland Securities’ price objective would suggest a potential upside of 2.94% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Roth Capital set a $11.00 target price on Evolution Petroleum and gave the stock a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded Evolution Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $9.33.
Shares of Evolution Petroleum (EPM) traded up $0.10 during midday trading on Monday, hitting $6.80. The stock had a trading volume of 58,400 shares, compared to its average volume of 104,723. Evolution Petroleum has a 1-year low of $6.35 and a 1-year high of $10.20.
Evolution Petroleum (NYSEAMERICAN:EPM) last issued its earnings results on Wednesday, November 8th. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Evolution Petroleum had a return on equity of 8.76% and a net margin of 16.99%. The business had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.19 million. During the same quarter last year, the company earned $0.02 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis.
In other Evolution Petroleum news, CFO David Joe sold 7,110 shares of Evolution Petroleum stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $7.50, for a total value of $53,325.00. Following the transaction, the chief financial officer now directly owns 365,427 shares in the company, valued at approximately $2,740,702.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Several hedge funds have recently made changes to their positions in EPM. California Public Employees Retirement System grew its stake in shares of Evolution Petroleum by 7.2% in the 1st quarter. California Public Employees Retirement System now owns 98,300 shares of the energy company’s stock valued at $786,000 after purchasing an additional 6,600 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Evolution Petroleum by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 1,187,925 shares of the energy company’s stock valued at $9,503,000 after buying an additional 26,421 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Evolution Petroleum by 8.0% in the 1st quarter. Geode Capital Management LLC now owns 259,056 shares of the energy company’s stock valued at $2,072,000 after buying an additional 19,140 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Evolution Petroleum by 8.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 404,301 shares of the energy company’s stock valued at $3,234,000 after buying an additional 31,006 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Evolution Petroleum by 27.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 180,417 shares of the energy company’s stock valued at $1,444,000 after buying an additional 38,722 shares during the period.
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About Evolution Petroleum
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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