Evolution Petroleum (NYSEAMERICAN:EPM) Share Price Crosses Below 50-Day Moving Average - Here's Why

Key Points

• Evolution Petroleum shares fell below their 50-day moving average, trading as low as $3.25 before closing at $3.34, compared with a 50-day average of $3.76.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $4.77.
• Institutional investors and hedge funds own approximately 60.07% of the company, with several firms increasing or initiating positions during the second quarter.

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM - Get Free Report)'s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.76 and traded as low as $3.25. Evolution Petroleum shares last traded at $3.34, with a volume of 4,408,428 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Northland Securities set a $4.00 price target on Evolution Petroleum in a report on Thursday, July 23rd. Zacks Research lowered shares of Evolution Petroleum from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Finally, Freedom Capital cut shares of Evolution Petroleum from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Evolution Petroleum presently has a consensus rating of "Hold" and an average target price of $4.77.

Evolution Petroleum Price Performance

The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $119.81 million, a price-to-earnings ratio of -30.36 and a beta of 0.25. The stock has a 50-day moving average price of $3.76 and a 200 day moving average price of $4.21.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of Evolution Petroleum by 19.6% during the 2nd quarter. Wellington Management Group LLP now owns 19,783 shares of the energy company's stock valued at $73,000 after buying an additional 3,236 shares in the last quarter. Equitable Holdings Inc. purchased a new stake in Evolution Petroleum in the 2nd quarter worth $37,000. Bank of America Corp DE increased its holdings in Evolution Petroleum by 55.0% in the 2nd quarter. Bank of America Corp DE now owns 25,462 shares of the energy company's stock worth $168,000 after acquiring an additional 9,036 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Evolution Petroleum during the second quarter worth $198,000. Finally, Ieq Capital LLC acquired a new position in Evolution Petroleum during the second quarter worth $85,000. 60.07% of the stock is owned by institutional investors and hedge funds.

About Evolution Petroleum

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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