Evolution Petroleum (NYSEAMERICAN:EPM) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.49 and traded as low as $4.33. Evolution Petroleum shares last traded at $4.34, with a volume of 332,552 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EPM. Northland Securities set a $4.50 target price on shares of Evolution Petroleum in a research note on Wednesday, May 13th. Freedom Capital cut shares of Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.93.

Evolution Petroleum Stock Up 1.2%

The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market capitalization of $155.68 million, a price-to-earnings ratio of -39.45 and a beta of 0.24. The firm’s 50-day simple moving average is $4.49 and its 200-day simple moving average is $4.20.

Evolution Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 11.1%. The ex-dividend date is Monday, June 15th. Evolution Petroleum’s dividend payout ratio (DPR) is currently 600.08%.

Institutional Trading of Evolution Petroleum

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Castleview Partners LLC grew its position in Evolution Petroleum by 21.7% in the 1st quarter. Castleview Partners LLC now owns 95,300 shares of the energy company’s stock worth $436,000 after purchasing an additional 17,000 shares during the last quarter. Kathmere Capital Management LLC bought a new position in shares of Evolution Petroleum during the 1st quarter worth about $51,000. WealthTrust Axiom LLC lifted its holdings in shares of Evolution Petroleum by 9.4% during the 4th quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock worth $6,898,000 after acquiring an additional 166,624 shares during the period. Ellevest Inc. lifted its holdings in shares of Evolution Petroleum by 59.9% during the 4th quarter. Ellevest Inc. now owns 48,933 shares of the energy company’s stock worth $173,000 after acquiring an additional 18,333 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Evolution Petroleum by 385.0% during the 4th quarter. Comerica Bank now owns 33,503 shares of the energy company’s stock worth $119,000 after acquiring an additional 26,595 shares during the period. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.