Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is moderately positive: Six brokerages rate Evolution Petroleum a “Moderate Buy,” with four buy ratings and two holds. The average 12-month price target is $4.76, compared with the latest price of $3.71.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 60.07% of the company, with BlackRock recently establishing an approximately $8.9 million position and Dimensional Fund Advisors increasing its stake.
• Financial results were mixed, while the dividend remains high: The company missed quarterly EPS expectations, reporting a $0.02 loss per share, but exceeded revenue estimates with $24.21 million. Its quarterly dividend of $0.12 implies a 12.9% annualized yield, though the payout ratio is an elevated 600.08%.

Shares of Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM - Get Free Report) have earned an average rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $4.76.

A number of research firms have recently commented on EPM. Zacks Research raised Evolution Petroleum from a "strong sell" rating to a "hold" rating in a report on Friday, August 28th. Alliance Global Partners reiterated a "buy" rating on shares of Evolution Petroleum in a research note on Tuesday, August 25th. Freedom Broker raised Evolution Petroleum from a "hold" rating to a "buy" rating and set a $4.50 price objective on the stock in a report on Tuesday, September 22nd. Finally, Northland Securities set a $4.25 price objective on Evolution Petroleum in a report on Thursday, September 17th.

Institutional Investors Weigh In On Evolution Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of EPM. BlackRock Inc. bought a new position in shares of Evolution Petroleum in the second quarter valued at approximately $8,894,000. Dimensional Fund Advisors LP increased its holdings in Evolution Petroleum by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,453,218 shares of the energy company's stock worth $6,656,000 after acquiring an additional 32,641 shares during the period. Castleview Partners LLC increased its holdings in Evolution Petroleum by 16.3% during the 3rd quarter. Castleview Partners LLC now owns 134,200 shares of the energy company's stock worth $475,000 after acquiring an additional 18,807 shares during the period. Bank of New York Mellon Corp purchased a new stake in Evolution Petroleum in the 2nd quarter worth approximately $312,000. Finally, Bank of America Corp DE lifted its stake in Evolution Petroleum by 11.2% in the 1st quarter. Bank of America Corp DE now owns 71,098 shares of the energy company's stock worth $326,000 after purchasing an additional 7,158 shares in the last quarter. 60.07% of the stock is owned by hedge funds and other institutional investors.

Evolution Petroleum Stock Performance

EPM traded up $0.04 on Friday, hitting $3.71. The company's stock had a trading volume of 257,938 shares, compared to its average volume of 405,151. The company's 50 day simple moving average is $3.65 and its 200-day simple moving average is $3.98. The firm has a market cap of $149.03 million, a P/E ratio of -46.38 and a beta of 0.44. Evolution Petroleum has a 12 month low of $3.19 and a 12 month high of $4.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.94.

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

Evolution Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date of this dividend was Monday, September 21st. Evolution Petroleum's payout ratio is presently 600.08%.

About Evolution Petroleum

Evolution Petroleum Corporation is an independent oil and natural gas company focused on acquiring, developing and managing mature, long-life producing properties in the United States. The company emphasizes assets that can generate stable production and cash flow through improved recovery techniques, operating efficiencies and disciplined capital investment.

Evolution Petroleum is particularly known for its interest in the Delhi Field in northeastern Louisiana, where carbon dioxide enhanced oil recovery is used to increase production from a mature oil reservoir.

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