Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.
According to Zacks, “Natural Gas Systems, Inc. is a development stage company formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production and develop incremental reserves, particularly in low permeability reservoirs amenable to lateral drilling technology. “
Shares of NYSEAMERICAN EPM traded up $0.08 during midday trading on Tuesday, reaching $6.06. 116,700 shares of the company traded hands, compared to its average volume of 146,145. Evolution Petroleum has a 52 week low of $5.75 and a 52 week high of $12.83.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. grew its holdings in Evolution Petroleum by 45.5% during the fourth quarter. Advisor Group Inc. now owns 4,802 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,502 shares during the period. American Century Companies Inc. grew its holdings in Evolution Petroleum by 1.4% during the fourth quarter. American Century Companies Inc. now owns 159,312 shares of the energy company’s stock worth $1,087,000 after acquiring an additional 2,263 shares during the period. Bard Associates Inc. grew its holdings in Evolution Petroleum by 2.2% during the second quarter. Bard Associates Inc. now owns 157,650 shares of the energy company’s stock worth $1,127,000 after acquiring an additional 3,400 shares during the period. Meeder Asset Management Inc. grew its holdings in Evolution Petroleum by 35.6% during the first quarter. Meeder Asset Management Inc. now owns 14,903 shares of the energy company’s stock worth $99,000 after acquiring an additional 3,912 shares during the period. Finally, Strs Ohio grew its holdings in Evolution Petroleum by 7.5% during the second quarter. Strs Ohio now owns 75,800 shares of the energy company’s stock worth $541,000 after acquiring an additional 5,300 shares during the period.
About Evolution Petroleum
Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.
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