Cornercap Investment Counsel Inc. Has $944,000 Holdings in Evolution Petroleum Co. (NYSEAMERICAN:EPM)

Cornercap Investment Counsel Inc. increased its stake in Evolution Petroleum Co. (NYSEAMERICAN:EPM) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,468 shares of the energy company’s stock after purchasing an additional 30,439 shares during the period. Cornercap Investment Counsel Inc. owned approximately 0.49% of Evolution Petroleum worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. boosted its stake in shares of Evolution Petroleum by 97.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,656 shares of the energy company’s stock worth $25,000 after buying an additional 1,800 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Evolution Petroleum by 253,450.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,071 shares of the energy company’s stock worth $34,000 after buying an additional 5,069 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Evolution Petroleum during the 3rd quarter worth about $35,000. Cubist Systematic Strategies LLC acquired a new position in shares of Evolution Petroleum during the 1st quarter worth about $34,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Evolution Petroleum in the 1st quarter valued at about $39,000. 60.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPM. TheStreet cut shares of Evolution Petroleum from a “b” rating to a “c+” rating in a report on Wednesday, February 7th. Roth Mkm reissued a “buy” rating and issued a $8.25 price target on shares of Evolution Petroleum in a report on Thursday, April 4th.

Evolution Petroleum Trading Up 2.4 %

Shares of Evolution Petroleum stock opened at $5.90 on Tuesday. Evolution Petroleum Co. has a fifty-two week low of $5.00 and a fifty-two week high of $10.11. The company has a market capitalization of $197.41 million, a price-to-earnings ratio of 12.29 and a beta of 0.89.

Evolution Petroleum (NYSEAMERICAN:EPM) last issued its earnings results on Tuesday, February 6th. The energy company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Evolution Petroleum had a net margin of 17.25% and a return on equity of 18.44%. The company had revenue of $21.02 million during the quarter, compared to analyst estimates of $23.67 million. Equities analysts anticipate that Evolution Petroleum Co. will post 0.17 EPS for the current fiscal year.

Evolution Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.14%. Evolution Petroleum’s dividend payout ratio (DPR) is presently 100.00%.

Evolution Petroleum Profile

Evolution Petroleum Corporation, an energy company, engages in the development, production, ownership, and exploitation of onshore oil and gas properties in the United States. The company holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of approximately 13,636 acres located in Northeast Louisiana.