The Zacks: Evolution Petroleum Corp (NYSE:EPM) Given $7.38 Consensus Target Price by Analysts

The Zacks: Evolution Petroleum Corp (NYSE:EPM) Given $7.38 Consensus Target Price by Analysts

Shares of Evolution Petroleum Corp (NYSE:EPM) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus price objective of $7.38 for the company and are expecting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Evolution Petroleum Corp an industry rank of 76 out of 265 based on the ratings given to related companies.

EPM has been the subject of a number of research reports. Zacks Investment Research raised shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Tuesday, July 5th. Roth Capital reissued a “buy” rating on shares of Evolution Petroleum Corp in a research report on Tuesday, July 12th. Finally, TheStreet raised shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th.

Evolution Petroleum Corp (NYSE:EPM) opened at 7.40 on Wednesday. Evolution Petroleum Corp has a 12 month low of $3.60 and a 12 month high of $7.77. The firm’s 50-day moving average is $6.15 and its 200 day moving average is $5.57. The firm has a market capitalization of $240.51 million and a P/E ratio of 10.14.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Tuesday, September 13th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thomson Horstmann & Bryant Inc. increased its position in Evolution Petroleum Corp by 3.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 1,045,972 shares of the company’s stock valued at $5,721,000 after buying an additional 32,128 shares during the period. Vanguard Group Inc. increased its position in Evolution Petroleum Corp by 6.1% in the second quarter. Vanguard Group Inc. now owns 863,342 shares of the company’s stock valued at $4,722,000 after buying an additional 49,493 shares during the period. WealthTrust Axiom LLC increased its position in Evolution Petroleum Corp by 14.2% in the second quarter. WealthTrust Axiom LLC now owns 619,277 shares of the company’s stock valued at $3,387,000 after buying an additional 76,789 shares during the period. State Street Corp increased 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 during the period. Finally, Bank of New York Mellon Corp increased its position in Evolution Petroleum Corp by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 266,179 shares of the company’s stock valued at $1,456,000 after buying an additional 23,451 shares during the period.

About Evolution Petroleum Corp

Evolution Petroleum Corporation is an independent petroleum company. The Company is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. The Company focuses on applying artificial lift technology called Gas Assisted Rod Pump (GARP) for recovering incremental oil and gas from existing wells.

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