Todays Report: Today, Brokerages gives Consensus Recommendation of “Buy” to Evolution Petroleum Corp (EPM)

Today, Brokerages gives Consensus Recommendation of “Buy” to Evolution Petroleum Corp (EPM)

Shares of Evolution Petroleum Corp (NYSE:EPM) have received a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $10.00.

Several equities research analysts have recently weighed in on the company. Northland Securities cut Evolution Petroleum Corp from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 20th. Zacks Investment Research raised Evolution Petroleum Corp from a “hold” rating to a “strong-buy” rating and set a $6.75 price objective for the company in a research report on Tuesday, September 13th. Scotiabank reissued an “outperform” rating and issued a $10.00 price objective on shares of Evolution Petroleum Corp in a research report on Wednesday, October 12th. Howard Weil assumed coverage on Evolution Petroleum Corp in a research report on Monday, October 10th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Finally, TheStreet raised Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th.

Several hedge funds and other institutional investors have recently modified their holdings of EPM. Numeric Investors LLC purchased a new position in shares of Evolution Petroleum Corp during the second quarter worth approximately $103,000. Parametric Portfolio Associates LLC raised its position in Evolution Petroleum Corp by 1.5% in the second quarter. Parametric Portfolio Associates LLC now owns 232,635 shares of the company’s stock valued at $1,273,000 after buying an additional 3,467 shares in the last quarter. Allianz Asset Management AG raised its position in Evolution Petroleum Corp by 44.6% in the second quarter. Allianz Asset Management AG now owns 164,669 shares of the company’s stock valued at $901,000 after buying an additional 50,803 shares in the last quarter. State Street Corp raised its position in Evolution Petroleum Corp by 0.9% in the second quarter. State Street Corp now owns 281,942 shares of the company’s stock valued at $1,542,000 after buying an additional 2,609 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Evolution Petroleum Corp by 38.2% in the second quarter. Rhumbline Advisers now owns 32,465 shares of the company’s stock valued at $178,000 after buying an additional 8,976 shares in the last quarter.

Evolution Petroleum Corp (NYSE:EPM) traded down 0.59% during midday trading on Friday, reaching $8.40. 76,976 shares of the company traded hands. The company has a 50-day moving average price of $7.78 and a 200-day moving average price of $6.20. The company has a market cap of $273.76 million and a price-to-earnings ratio of 12.77. Evolution Petroleum Corp has a 12-month low of $3.60 and a 12-month high of $8.75.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, December 13th.

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