Evolution Petroleum (NYSEAMERICAN:EPM) Upgraded at Freedom Broker

Key Points

• Freedom Broker upgraded Evolution Petroleum from “hold” to “buy” and set a $4.50 price target, implying 22.12% upside from the stock’s $3.69 price.
• Analyst sentiment is broadly positive, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $4.76.
• Evolution Petroleum missed quarterly EPS expectations, reporting a $0.02 loss per share versus the expected $0.01 profit, although revenue of $24.21 million exceeded forecasts.

Evolution Petroleum (NYSEAMERICAN:EPM - Get Free Report) was upgraded by equities research analysts at Freedom Broker from a "hold" rating to a "buy" rating in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a $4.50 price target on the energy company's stock. Freedom Broker's target price suggests a potential upside of 22.12% from the stock's current price.

A number of other equities analysts have also commented on EPM. Alliance Global Partners reaffirmed a "buy" rating on shares of Evolution Petroleum in a research report on Tuesday, August 25th. Zacks Research raised shares of Evolution Petroleum from a "strong sell" rating to a "hold" rating in a research report on Friday, August 28th. Finally, Northland Securities set a $4.25 price objective on shares of Evolution Petroleum in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.76.

Evolution Petroleum Price Performance

Shares of EPM stock traded up $0.12 on Tuesday, reaching $3.69. The company's stock had a trading volume of 387,612 shares, compared to its average volume of 436,399. Evolution Petroleum has a 1 year low of $3.19 and a 1 year high of $5.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.94. The stock's fifty day simple moving average is $3.69 and its 200-day simple moving average is $4.11. The company has a market capitalization of $148.03 million, a price-to-earnings ratio of -46.19 and a beta of 0.25.

Evolution Petroleum (NYSEAMERICAN:EPM - Get Free Report) last issued its quarterly earnings data on Tuesday, September 15th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.03). Evolution Petroleum had a negative net margin of 2.81% and a negative return on equity of 5.41%. The company had revenue of $24.21 million for the quarter, compared to analysts' expectations of $23.23 million. Analysts forecast that Evolution Petroleum will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolution Petroleum

Institutional investors have recently modified their holdings of the business. WealthTrust Axiom LLC increased its position in shares of Evolution Petroleum by 9.4% in the fourth quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company's stock valued at $6,898,000 after buying an additional 166,624 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Evolution Petroleum during the second quarter worth approximately $8,894,000. Ellevest Inc. increased its position in shares of Evolution Petroleum by 59.9% during the fourth quarter. Ellevest Inc. now owns 48,933 shares of the energy company's stock worth $173,000 after purchasing an additional 18,333 shares in the last quarter. Equitable Holdings Inc. acquired a new position in Evolution Petroleum in the 2nd quarter valued at $37,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Evolution Petroleum in the 2nd quarter valued at $198,000. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation is an independent energy company engaged in the acquisition, development, and operation of oil and natural gas properties. The company focuses primarily on mature, long-life assets in the United States, with an emphasis on properties that can benefit from enhanced oil recovery, operational improvements, and additional development.

Evolution Petroleum's flagship asset is its interest in the Delhi Field in northeastern Louisiana, where carbon dioxide is used in a miscible flood program to increase oil recovery from an established reservoir.

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