BlackRock Inc. Takes Position in Evolution Petroleum Corporation, Inc. $EPM

Key Points

• BlackRock acquired 2.42 million shares of Evolution Petroleum during the second quarter, valued at approximately $8.9 million, giving it a 6.74% stake. Institutional investors collectively own 60.07% of the company.
• Evolution Petroleum shares opened at $3.68, near the midpoint of their 52-week range of $3.19 to $5.70. The company has a market capitalization of about $132.3 million.
• Analyst sentiment is moderately positive, with three Buy ratings and two Holds; the average price target is $4.77, while Northland Securities recently upgraded the stock to Outperform with a $4.00 target.

BlackRock Inc. acquired a new position in shares of Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,416,712 shares of the energy company's stock, valued at approximately $8,894,000. BlackRock Inc. owned 6.74% of Evolution Petroleum as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Comerica Bank raised its holdings in shares of Evolution Petroleum by 894.0% in the 3rd quarter. Comerica Bank now owns 6,908 shares of the energy company's stock worth $33,000 after buying an additional 6,213 shares in the last quarter. StoneX Group Inc. bought a new position in Evolution Petroleum in the fourth quarter valued at about $36,000. BNP Paribas Financial Markets grew its position in shares of Evolution Petroleum by 163.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,194 shares of the energy company's stock worth $39,000 after buying an additional 5,083 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Evolution Petroleum by 20.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,836 shares of the energy company's stock worth $49,000 after acquiring an additional 2,340 shares during the period. Finally, Kathmere Capital Management LLC bought a new stake in Evolution Petroleum in the first quarter valued at about $51,000. Institutional investors and hedge funds own 60.07% of the company's stock.

Evolution Petroleum Trading Down 0.5%

EPM opened at $3.68 on Friday. Evolution Petroleum Corporation, Inc. has a fifty-two week low of $3.19 and a fifty-two week high of $5.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.61 and a quick ratio of 0.61. The company's 50-day moving average is $3.68 and its 200 day moving average is $4.17. The firm has a market capitalization of $132.30 million, a PE ratio of -33.45 and a beta of 0.25.

Analysts Set New Price Targets

Several research firms have weighed in on EPM. Northland Securities upgraded Evolution Petroleum from a "market perform" rating to an "outperform" rating and set a $4.00 target price on the stock in a report on Friday, August 28th. Zacks Research raised Evolution Petroleum from a "strong sell" rating to a "hold" rating in a research report on Friday, August 28th. Freedom Capital lowered shares of Evolution Petroleum from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 20th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Evolution Petroleum in a research report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4.77.

Evolution Petroleum 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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