Cornercap Investment Counsel Inc. lifted its holdings in shares of Evolution Petroleum Corp (NYSEAMERICAN:EPM) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,485 shares of the energy company’s stock after acquiring an additional 14,855 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Evolution Petroleum were worth $757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. ArrowMark Colorado Holdings LLC increased its position in shares of Evolution Petroleum by 5.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,489,883 shares of the energy company’s stock valued at $17,056,000 after acquiring an additional 137,459 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Evolution Petroleum by 3.8% during the second quarter. Vanguard Group Inc. now owns 1,232,494 shares of the energy company’s stock valued at $9,983,000 after acquiring an additional 44,569 shares during the last quarter. Renaissance Technologies LLC increased its position in Evolution Petroleum by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,155,400 shares of the energy company’s stock worth $7,914,000 after buying an additional 80,800 shares during the last quarter. WealthTrust Axiom LLC increased its position in Evolution Petroleum by 1.8% in the fourth quarter. WealthTrust Axiom LLC now owns 649,355 shares of the energy company’s stock worth $4,448,000 after buying an additional 11,611 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Evolution Petroleum by 20.3% in the third quarter. Dimensional Fund Advisors LP now owns 627,699 shares of the energy company’s stock worth $4,519,000 after buying an additional 106,018 shares during the last quarter.

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EPM has been the subject of a number of recent research reports. Zacks Investment Research raised Evolution Petroleum from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Wednesday, December 20th. Northland Securities set a $7.00 target price on Evolution Petroleum and gave the stock a “hold” rating in a research report on Monday, December 11th. Eurobank EFG raised Evolution Petroleum from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Thursday, February 8th. Finally, UBS Group raised Evolution Petroleum from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Evolution Petroleum presently has a consensus rating of “Buy” and a consensus price target of $9.45.

In related news, major shareholder Advisors L.L.C. Jvl sold 58,569 shares of Evolution Petroleum stock in a transaction on Monday, March 12th. The stock was sold at an average price of $8.11, for a total transaction of $474,994.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Joe sold 16,666 shares of Evolution Petroleum stock in a transaction on Monday, February 12th. The shares were sold at an average price of $8.16, for a total value of $135,994.56. Following the sale, the chief financial officer now directly owns 345,924 shares of the company’s stock, valued at approximately $2,822,739.84. The disclosure for this sale can be found here. Insiders have sold 167,545 shares of company stock valued at $1,329,240 in the last three months.

Evolution Petroleum Corp (NYSEAMERICAN:EPM) opened at $8.10 on Wednesday. Evolution Petroleum Corp has a twelve month low of $6.35 and a twelve month high of $8.70. The company has a market capitalization of $267.82, a price-to-earnings ratio of 27.00 and a beta of 0.69.

Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings results on Wednesday, February 7th. The energy company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. Evolution Petroleum had a return on equity of 21.51% and a net margin of 35.03%. The firm had revenue of $11.07 million during the quarter, compared to analyst estimates of $10.66 million.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.10 dividend. This is a positive change from Evolution Petroleum’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Wednesday, March 14th. Evolution Petroleum’s dividend payout ratio (DPR) is presently 100.00%.

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Evolution Petroleum Profile

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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Institutional Ownership by Quarter for Evolution Petroleum (NYSEAMERICAN:EPM)

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