Evolution Petroleum (NYSEAMERICAN:EPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $6.00 price target on the energy company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.70% from the company’s previous close.
According to Zacks, “Natural Gas Systems, Inc. is a development stage company formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production and develop incremental reserves, particularly in low permeability reservoirs amenable to lateral drilling technology. “
Other equities research analysts have also issued reports about the stock. Northland Securities reaffirmed a “hold” rating and issued a $6.50 price target on shares of Evolution Petroleum in a report on Monday, September 16th. TheStreet lowered shares of Evolution Petroleum from a “b-” rating to a “c+” rating in a report on Monday, September 30th.
NYSEAMERICAN:EPM traded up $0.20 during mid-day trading on Tuesday, hitting $5.52. The company’s stock had a trading volume of 120,943 shares, compared to its average volume of 138,953. Evolution Petroleum has a 1 year low of $5.04 and a 1 year high of $8.11.
Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $9.15 million during the quarter, compared to analysts’ expectations of $9.50 million.
Large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Evolution Petroleum by 18.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,834 shares of the energy company’s stock worth $84,000 after acquiring an additional 1,830 shares during the period. Barclays PLC raised its position in shares of Evolution Petroleum by 12.1% in the third quarter. Barclays PLC now owns 19,972 shares of the energy company’s stock worth $117,000 after acquiring an additional 2,150 shares during the period. Bard Associates Inc. raised its position in shares of Evolution Petroleum by 2.2% in the second quarter. Bard Associates Inc. now owns 157,650 shares of the energy company’s stock worth $1,127,000 after acquiring an additional 3,400 shares during the period. California Public Employees Retirement System raised its position in shares of Evolution Petroleum by 4.1% in the third quarter. California Public Employees Retirement System now owns 102,780 shares of the energy company’s stock worth $600,000 after acquiring an additional 4,038 shares during the period. Finally, Strs Ohio raised its position in shares of Evolution Petroleum by 7.5% in the second quarter. Strs Ohio now owns 75,800 shares of the energy company’s stock worth $541,000 after acquiring an additional 5,300 shares during the period.
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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