Evolution Petroleum (NYSEAMERICAN:EPM) Stock Passes Below 50 Day Moving Average – What’s Next?

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.70 and traded as low as $3.44. Evolution Petroleum shares last traded at $3.58, with a volume of 434,472 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on EPM. Freedom Capital cut shares of Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Northland Securities upgraded shares of Evolution Petroleum from a “market perform” rating to an “outperform” rating and set a $4.00 price target on the stock in a research note on Friday. Zacks Research downgraded shares of Evolution Petroleum from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Evolution Petroleum in a report on Tuesday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.77.

Evolution Petroleum Price Performance

The firm has a market cap of $130.86 million, a P/E ratio of -33.09 and a beta of 0.25. 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 business has a 50-day moving average of $3.69 and a two-hundred day moving average of $4.18.

Institutional Investors Weigh In On Evolution Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Evolution Petroleum by 19.6% in the second quarter. Wellington Management Group LLP now owns 19,783 shares of the energy company’s stock valued at $73,000 after acquiring an additional 3,236 shares during the last quarter. Equitable Holdings Inc. bought a new position in Evolution Petroleum during the second quarter valued at $37,000. Bank of America Corp DE increased its position in Evolution Petroleum by 55.0% in the second quarter. Bank of America Corp DE now owns 25,462 shares of the energy company’s stock worth $168,000 after buying an additional 9,036 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Evolution Petroleum in the second quarter valued at $198,000. Finally, Ieq Capital LLC bought a new position in shares of Evolution Petroleum during the 2nd quarter worth $85,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

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.