Brokerages Set Evolution Petroleum Corporation (NYSE:EPM) Target Price at $5.63

Evolution Petroleum Corporation (NYSE:EPM) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.6250.

A number of research analysts have recently commented on EPM shares. Loop Capital set a $5.30 price target on Evolution Petroleum in a research note on Tuesday, December 23rd. Freedom Capital raised Evolution Petroleum to a “strong-buy” rating in a research note on Tuesday, December 23rd. Roth Capital started coverage on Evolution Petroleum in a report on Thursday, December 4th. They set a “buy” rating and a $5.00 price target on the stock. Finally, Zacks Research raised Evolution Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th.

Hedge Funds Weigh In On Evolution Petroleum

A number of hedge funds have recently modified their holdings of EPM. Nuveen LLC bought a new position in shares of Evolution Petroleum during the first quarter worth about $317,000. Goldman Sachs Group Inc. boosted its holdings in Evolution Petroleum by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 139,715 shares of the company’s stock valued at $724,000 after acquiring an additional 27,068 shares during the last quarter. Ancora Advisors LLC increased its position in Evolution Petroleum by 142.8% during the 1st quarter. Ancora Advisors LLC now owns 104,920 shares of the company’s stock valued at $543,000 after purchasing an additional 61,708 shares during the period. PNC Financial Services Group Inc. raised its holdings in Evolution Petroleum by 157.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 25,041 shares of the company’s stock worth $118,000 after purchasing an additional 15,328 shares during the last quarter. Finally, Register Financial Advisors LLC lifted its position in shares of Evolution Petroleum by 6.0% in the 2nd quarter. Register Financial Advisors LLC now owns 315,611 shares of the company’s stock worth $1,483,000 after purchasing an additional 17,829 shares during the period. Institutional investors and hedge funds own 60.07% of the company’s stock.

Evolution Petroleum Price Performance

Shares of NYSE:EPM opened at $3.54 on Monday. The firm has a 50 day simple moving average of $4.04 and a 200 day simple moving average of $4.62. The company has a market cap of $122.81 million, a price-to-earnings ratio of 70.81 and a beta of 0.26. Evolution Petroleum has a one year low of $3.51 and a one year high of $5.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64.

Evolution Petroleum Company Profile

Evolution Petroleum Enterprises, Inc (NYSE:EPM) is an independent oil and gas company focused on acquiring, developing and producing petroleum and natural gas assets in the United States. Through a strategy centered on high-margin, mature fields, the company targets properties where enhanced recovery techniques can unlock remaining reserves, offering stable production and cash flow potential.

The company’s principal activities revolve around carbon dioxide (CO₂) enhanced oil recovery (EOR) operations.