Roth Capital Upgrades Evolution Petroleum (EPM) to Buy

Roth Capital upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a neutral rating to a buy rating in a research report released on Monday, The Fly reports. They currently have $10.00 price target on the energy company’s stock, down from their previous price target of $10.50.

Separately, Zacks Investment Research downgraded shares of Evolution Petroleum from a buy rating to a hold rating in a research note on Wednesday, November 14th.

Shares of NYSEAMERICAN:EPM opened at $7.33 on Monday. Evolution Petroleum has a 52 week low of $6.17 and a 52 week high of $12.83.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend is Thursday, March 14th.

In other news, Director Marran H. Ogilvie purchased 6,800 shares of the business’s stock in a transaction on Monday, December 31st. The shares were acquired at an average cost of $6.81 per share, with a total value of $46,308.00. Following the completion of the acquisition, the director now owns 36,667 shares of the company’s stock, valued at $249,702.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its holdings in shares of Evolution Petroleum by 45.5% during the fourth quarter. Advisor Group Inc. now owns 4,802 shares of the energy company’s stock valued at $33,000 after buying an additional 1,502 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Evolution Petroleum by 2.6% during the fourth quarter. Prudential Financial Inc. now owns 94,647 shares of the energy company’s stock valued at $645,000 after buying an additional 2,421 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Evolution Petroleum by 18.4% during the third quarter. Wells Fargo & Company MN now owns 45,959 shares of the energy company’s stock valued at $508,000 after buying an additional 7,145 shares during the last quarter. Strs Ohio grew its holdings in shares of Evolution Petroleum by 11.6% during the fourth quarter. Strs Ohio now owns 70,500 shares of the energy company’s stock valued at $480,000 after buying an additional 7,300 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in shares of Evolution Petroleum by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 21,261 shares of the energy company’s stock valued at $235,000 after buying an additional 7,558 shares during the last quarter.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.

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