Evolution Petroleum (NYSEAMERICAN:EPM) Rating Increased to Buy at Roth Capital

Roth Capital upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a neutral rating to a buy rating in a research report sent to investors on Friday, Benzinga reports. They currently have $5.50 target price on the energy company’s stock.

Several other research firms have also recently commented on EPM. Zacks Investment Research cut Evolution Petroleum from a hold rating to a sell rating in a research note on Wednesday, July 22nd. Alliance Global Partners assumed coverage on Evolution Petroleum in a research note on Wednesday, September 2nd. They set a neutral rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $5.92.

EPM opened at $2.69 on Friday. Evolution Petroleum has a 12 month low of $2.12 and a 12 month high of $6.77.

The firm 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. This represents a $0.10 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Monday, September 14th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd lifted its holdings in shares of Evolution Petroleum by 8.1% in the 1st quarter. WINTON GROUP Ltd now owns 72,474 shares of the energy company’s stock valued at $189,000 after purchasing an additional 5,425 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Evolution Petroleum by 2.9% in the 2nd quarter. Bank of America Corp DE now owns 204,707 shares of the energy company’s stock valued at $573,000 after purchasing an additional 5,693 shares during the last quarter. Strs Ohio lifted its holdings in shares of Evolution Petroleum by 9.0% in the 2nd quarter. Strs Ohio now owns 82,600 shares of the energy company’s stock valued at $231,000 after purchasing an additional 6,800 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Evolution Petroleum by 125.2% in the 1st quarter. Citigroup Inc. now owns 13,771 shares of the energy company’s stock valued at $36,000 after purchasing an additional 7,655 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Evolution Petroleum in the 1st quarter valued at about $27,000.

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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