Evolution Petroleum (NYSEAMERICAN:EPM) Upgraded by Freedom Broker to “Buy” Rating

Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by research analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a $4.50 target price on the energy company’s stock. Freedom Broker’s target price indicates a potential upside of 22.12% from the stock’s previous close.

EPM has been the subject of several other research reports. Zacks Research upgraded shares of Evolution Petroleum from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Northland Securities set a $4.25 price target on shares of Evolution Petroleum in a research note on Thursday. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Evolution Petroleum in a research report on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Evolution Petroleum presently has an average rating of “Moderate Buy” and an average price target of $4.76.

Evolution Petroleum Trading Up 3.5%

Shares of EPM traded up $0.12 during mid-day trading on Tuesday, reaching $3.69. The stock had a trading volume of 387,612 shares, compared to its average volume of 436,399. The business’s fifty day moving average is $3.69 and its 200 day moving average is $4.11. Evolution Petroleum has a 52-week low of $3.19 and a 52-week high of $5.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $148.03 million, a price-to-earnings ratio of -46.19 and a beta of 0.25.

Evolution Petroleum (NYSEAMERICAN:EPM) last announced its quarterly earnings results on Tuesday, September 15th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The firm had revenue of $24.21 million for the quarter, compared to analyst estimates of $23.23 million. Evolution Petroleum had a negative return on equity of 5.41% and a negative net margin of 2.81%. On average, sell-side analysts predict that Evolution Petroleum will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolution Petroleum

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Evolution Petroleum by 19.6% in the 2nd quarter. Wellington Management Group LLP now owns 19,783 shares of the energy company’s stock worth $73,000 after buying an additional 3,236 shares in the last quarter. Bank of America Corp DE boosted its position in Evolution Petroleum by 11.2% during the first quarter. Bank of America Corp DE now owns 71,098 shares of the energy company’s stock worth $326,000 after acquiring an additional 7,158 shares during the last quarter. Equitable Holdings Inc. acquired a new stake in shares of Evolution Petroleum during the second quarter worth $37,000. Kathmere Capital Management LLC purchased a new stake in Evolution Petroleum in the 1st quarter valued at about $51,000. Finally, Chancellor Financial Group WB LP purchased a new stake in Evolution Petroleum in the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

About Evolution Petroleum

Evolution Petroleum Corporation is an independent energy company engaged in the acquisition, development, and operation of oil and natural gas properties. The company focuses primarily on mature, long-life assets in the United States, with an emphasis on properties that can benefit from enhanced oil recovery, operational improvements, and additional development.

Evolution Petroleum’s flagship asset is its interest in the Delhi Field in northeastern Louisiana, where carbon dioxide is used in a miscible flood program to increase oil recovery from an established reservoir.