Scotiabank set a $11.00 price objective on Evolution Petroleum Corp (NYSE:EPM) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the stock.
Separately, Zacks Investment Research upgraded Evolution Petroleum Corp from a sell rating to a hold rating in a research report on Friday, March 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Evolution Petroleum Corp presently has a consensus rating of Buy and an average price target of $10.33.
Shares of Evolution Petroleum Corp (NYSE:EPM) traded up 0.65% during mid-day trading on Monday, hitting $7.80. The company’s stock had a trading volume of 89,644 shares. The company has a market cap of $254.79 million and a PE ratio of 11.03. The stock has a 50-day moving average of $8.22 and a 200-day moving average of $8.20. Evolution Petroleum Corp has a 12-month low of $4.45 and a 12-month high of $10.20.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.61%. This is an increase from Evolution Petroleum Corp’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, March 13th.
A number of hedge funds have recently bought and sold shares of the company. Numeric Investors LLC purchased a new stake in Evolution Petroleum Corp during the fourth quarter worth approximately $1,830,000. Metropolitan Life Insurance Co. NY purchased a new stake in Evolution Petroleum Corp during the fourth quarter worth approximately $177,000. Two Sigma Investments LP purchased a new stake in Evolution Petroleum Corp during the fourth quarter worth approximately $1,094,000. Arrowpoint Asset Management LLC increased its stake in Evolution Petroleum Corp by 12.6% in the fourth quarter. Arrowpoint Asset Management LLC now owns 2,225,936 shares of the company’s stock worth $22,259,000 after buying an additional 249,487 shares during the last quarter. Finally, Menta Capital LLC increased its stake in Evolution Petroleum Corp by 15.0% in the fourth quarter. Menta Capital LLC now owns 244,313 shares of the company’s stock worth $2,443,000 after buying an additional 31,959 shares during the last quarter.
Evolution Petroleum Corp Company Profile
Evolution Petroleum Corporation is an independent oil and gas 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. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.