Trade Report: Today, Evolution Petroleum Corp (EPM) Sees Large Increase in Short Interest

Today, Evolution Petroleum Corp (EPM) Sees Large Increase in Short Interest

Evolution Petroleum Corp (NYSE:EPM) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 650,327 shares, a growth of 6.0% from the October 31st total of 613,390 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 199,626 shares, the days-to-cover ratio is currently 3.3 days.

Several equities analysts have weighed in on EPM shares. TheStreet raised Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Zacks Investment Research raised Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Northland Securities lowered Evolution Petroleum Corp from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 20th. Scotiabank reissued an “outperform” rating and issued a $10.00 target price on shares of Evolution Petroleum Corp in a research note on Wednesday, October 12th. Finally, Howard Weil started coverage on Evolution Petroleum Corp in a research note on Monday, October 10th. They issued a “sector outperform” rating and a $10.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Evolution Petroleum Corp currently has a consensus rating of “Buy” and an average price target of $8.92.

Shares of Evolution Petroleum Corp (NYSE:EPM) opened at 8.40 on Friday. The firm has a 50 day moving average price of $7.82 and a 200 day moving average price of $6.23. Evolution Petroleum Corp has a one year low of $3.60 and a one year high of $8.75. The company has a market capitalization of $273.76 million and a P/E ratio of 12.77.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.065 dividend. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, December 13th. This represents a $0.26 annualized dividend and a dividend yield of 3.10%.

Several institutional investors have recently modified their holdings of the stock. Numeric Investors LLC acquired a new position in shares of Evolution Petroleum Corp during the second quarter valued at about $103,000. KCG Holdings Inc. acquired a new position in shares of Evolution Petroleum Corp during the third quarter valued at about $124,000. Chicago Equity Partners LLC acquired a new position in shares of Evolution Petroleum Corp during the third quarter valued at about $143,000. Spark Investment Management LLC acquired a new position in shares of Evolution Petroleum Corp during the third quarter valued at about $151,000. Finally, Rhumbline Advisers raised its position in shares of 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 during the last quarter.

About Evolution Petroleum Corp

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