Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) Short Interest Update

Key Points

• Short interest fell about 12.0% in February to 1,833,717 shares, equal to 5.9% of the stock and a days-to-cover ratio of 4.4 based on average daily volume.
• Evolution declared a quarterly dividend of $0.12 (annualized $0.48) for a 10.5% yield with an ex-dividend date of March 16, but the payout ratio is extremely high at 600.08%.
• Analysts have an average rating of “Moderate Buy” with a consensus target price of $5.33 (distribution: 1 Strong Buy, 2 Buy, 2 Hold).

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM - Get Free Report) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 1,833,717 shares, a drop of 12.0% from the February 12th total of 2,084,189 shares. Based on an average daily volume of 421,523 shares, the days-to-cover ratio is currently 4.4 days. Currently, 5.9% of the company's stock are sold short. Currently, 5.9% of the company's stock are sold short. Based on an average daily volume of 421,523 shares, the days-to-cover ratio is currently 4.4 days.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPM. Freedom Capital raised Evolution Petroleum to a "strong-buy" rating in a research report on Tuesday, December 23rd. Loop Capital set a $5.30 price target on shares of Evolution Petroleum in a research note on Tuesday, December 23rd. Roth Mkm began coverage on shares of Evolution Petroleum in a report on Thursday, December 4th. They issued a "buy" rating and a $5.00 price target on the stock. Finally, Zacks Research upgraded shares of Evolution Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.33.

Evolution Petroleum Trading Down 2.1%

NYSEAMERICAN EPM opened at $4.59 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. Evolution Petroleum has a one year low of $3.19 and a one year high of $5.70. The company has a 50-day simple moving average of $4.09 and a 200-day simple moving average of $4.30. The firm has a market capitalization of $160.65 million, a PE ratio of 57.38 and a beta of 0.27.

Evolution Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date is Monday, March 16th. Evolution Petroleum's payout ratio is presently 600.08%.

Hedge Funds Weigh In On Evolution Petroleum

Several institutional investors have recently made changes to their positions in EPM. WealthTrust Axiom LLC raised its position in shares of Evolution Petroleum by 9.4% during the 4th quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company's stock worth $6,898,000 after purchasing an additional 166,624 shares during the period. Vanguard Group Inc. boosted its position in Evolution Petroleum by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,600,822 shares of the energy company's stock valued at $7,716,000 after purchasing an additional 5,101 shares during the period. Ranger Investment Management L.P. grew its stake in Evolution Petroleum by 7.4% during the 2nd quarter. Ranger Investment Management L.P. now owns 1,146,350 shares of the energy company's stock worth $5,388,000 after buying an additional 79,280 shares during the last quarter. American Century Companies Inc. grew its stake in Evolution Petroleum by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 855,498 shares of the energy company's stock worth $4,021,000 after buying an additional 106,056 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Evolution Petroleum by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 756,703 shares of the energy company's stock worth $2,679,000 after buying an additional 29,101 shares during the period. 60.07% of the stock is owned by institutional investors.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation (NYSE American: EPM) is an independent oil and natural gas company focused on enhanced oil recovery (EOR) through the use of carbon dioxide. Headquartered in Houston, Texas, the company specializes in acquiring and developing mature hydrocarbon reservoirs that benefit from CO₂ injection to increase production efficiency. Evolution Petroleum's business model combines property acquisition, reservoir engineering, and CO₂ management to optimize recovery of oil and associated gas.

The company's primary asset is the Jackson Dome CO₂ field in southwestern Mississippi, where natural carbon dioxide is produced, separated and reinjected into adjacent oil-bearing formations.

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