Evolution Petroleum Corp (NYSEAMERICAN:EPM) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 497,096 shares, a drop of 28.1% from the January 15th total of 691,149 shares. Based on an average daily trading volume, of 146,458 shares, the short-interest ratio is currently 3.4 days. Currently, 1.6% of the company’s stock are short sold.
A number of research firms recently commented on EPM. Zacks Investment Research raised shares of Evolution Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Roth Capital raised shares of Evolution Petroleum from a “neutral” rating to a “buy” rating and dropped their target price for the company from $10.50 to $10.00 in a research report on Monday.
In related news, Director Marran H. Ogilvie bought 6,800 shares of the company’s stock in a transaction that occurred on Monday, December 31st. The shares were purchased at an average cost of $6.81 per share, with a total value of $46,308.00. Following the transaction, the director now directly owns 36,667 shares of the company’s stock, valued at approximately $249,702.27. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
A number of large investors have recently modified their holdings of EPM. BlackRock Inc. boosted its stake in Evolution Petroleum by 35.2% during the 2nd quarter. BlackRock Inc. now owns 3,025,330 shares of the energy company’s stock worth $29,798,000 after purchasing an additional 788,088 shares during the period. Dimensional Fund Advisors LP boosted its stake in Evolution Petroleum by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 932,363 shares of the energy company’s stock worth $9,184,000 after purchasing an additional 121,866 shares during the period. Bank of America Corp DE boosted its stake in Evolution Petroleum by 332.6% during the 2nd quarter. Bank of America Corp DE now owns 94,174 shares of the energy company’s stock worth $928,000 after purchasing an additional 72,406 shares during the period. California Public Employees Retirement System boosted its stake in Evolution Petroleum by 12.3% during the 2nd quarter. California Public Employees Retirement System now owns 102,947 shares of the energy company’s stock worth $1,014,000 after purchasing an additional 11,247 shares during the period. Finally, Northern Trust Corp boosted its stake in Evolution Petroleum by 2.7% during the 2nd quarter. Northern Trust Corp now owns 367,464 shares of the energy company’s stock worth $3,619,000 after purchasing an additional 9,679 shares during the period.
Shares of NYSEAMERICAN:EPM opened at $7.33 on Tuesday. Evolution Petroleum has a 1-year low of $6.17 and a 1-year high of $12.83.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Thursday, March 14th.
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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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