Evolution Petroleum (NYSEAMERICAN:EPM) Rating Increased to Buy at Alliance Global Partners

Alliance Global Partners upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, The Fly reports.

Other equities research analysts also recently issued research reports about the company. Roth Capital upgraded Evolution Petroleum from a neutral rating to a buy rating and set a $5.50 price objective on the stock in a report on Friday, September 4th. Zacks Investment Research upgraded Evolution Petroleum from a sell rating to a hold rating in a report on Thursday, September 10th.

NYSEAMERICAN:EPM opened at $2.25 on Monday. Evolution Petroleum has a 52 week low of $2.12 and a 52 week high of $5.95.

Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings data on Wednesday, September 9th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The firm had revenue of $3.35 million during the quarter, compared to analysts’ expectations of $4.09 million.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.10 annualized dividend and a yield of 4.44%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ArrowMark Colorado Holdings LLC increased its holdings in Evolution Petroleum by 79.0% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 2,556,132 shares of the energy company’s stock worth $6,672,000 after purchasing an additional 1,128,219 shares during the period. North Star Investment Management Corp. boosted its position in shares of Evolution Petroleum by 671.7% during the 2nd quarter. North Star Investment Management Corp. now owns 750,525 shares of the energy company’s stock worth $2,101,000 after acquiring an additional 653,275 shares in the last quarter. Amica Mutual Insurance Co. boosted its position in shares of Evolution Petroleum by 21.1% during the 1st quarter. Amica Mutual Insurance Co. now owns 603,541 shares of the energy company’s stock worth $1,575,000 after acquiring an additional 105,057 shares in the last quarter. Foundry Partners LLC boosted its position in shares of Evolution Petroleum by 3.0% during the 2nd quarter. Foundry Partners LLC now owns 596,318 shares of the energy company’s stock worth $1,670,000 after acquiring an additional 17,278 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Evolution Petroleum by 2.3% during the 1st quarter. State Street Corp now owns 532,997 shares of the energy company’s stock worth $1,391,000 after acquiring an additional 11,842 shares in the last quarter.

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.

Further Reading: Buy-Side Analysts

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