Evolution Petroleum (NYSEAMERICAN:EPM) Releases Quarterly Earnings Results, Meets Estimates

Evolution Petroleum (NYSEAMERICAN:EPM) issued its earnings results on Tuesday. The energy company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06, Yahoo Finance reports. Evolution Petroleum had a net margin of 32.77% and a return on equity of 57.14%. The business had revenue of $18.17 million during the quarter, compared to the consensus estimate of $21.65 million.

Evolution Petroleum Trading Down 25.1 %

Shares of NYSEAMERICAN EPM traded down $2.22 during midday trading on Wednesday, reaching $6.63. The company’s stock had a trading volume of 897,903 shares, compared to its average volume of 342,311. Evolution Petroleum has a fifty-two week low of $5.39 and a fifty-two week high of $10.11. The stock’s 50 day moving average price is $7.38. The firm has a market cap of $220.58 million, a P/E ratio of 5.99 and a beta of 0.98.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Evolution Petroleum in a research note on Wednesday, August 23rd. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Evolution Petroleum by 7.0% in the second quarter. PNC Financial Services Group Inc. now owns 20,197 shares of the energy company’s stock valued at $163,000 after acquiring an additional 1,316 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Evolution Petroleum by 97.0% during the first quarter. Advisor Group Holdings Inc. now owns 3,656 shares of the energy company’s stock worth $25,000 after buying an additional 1,800 shares during the last quarter. Ethic Inc. grew its stake in shares of Evolution Petroleum by 12.9% during the first quarter. Ethic Inc. now owns 16,466 shares of the energy company’s stock worth $104,000 after buying an additional 1,879 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Evolution Petroleum by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 214,494 shares of the energy company’s stock worth $1,456,000 after buying an additional 2,763 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Evolution Petroleum by 51.2% during the first quarter. Tower Research Capital LLC TRC now owns 8,248 shares of the energy company’s stock worth $52,000 after buying an additional 2,793 shares during the last quarter. 61.68% of the stock is owned by institutional investors.

About Evolution Petroleum

Evolution Petroleum Corporation, an energy company, engages in the development, production, ownership, and exploitation of onshore oil and gas properties in the United States. The company 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.