Evolution Petroleum (NYSE:EPM) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Evolution Petroleum (NYSE:EPM) from a sell rating to a hold rating in a report released on Thursday morning.

Separately, Northland Capmk upgraded shares of Evolution Petroleum to a “strong-buy” rating in a report on Thursday, October 17th.

Evolution Petroleum Trading Down 0.9 %

EPM traded down $0.05 on Thursday, hitting $5.80. 112,284 shares of the company were exchanged, compared to its average volume of 291,551. The business has a 50-day moving average price of $5.42. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.49. Evolution Petroleum has a twelve month low of $4.59 and a twelve month high of $6.28. The stock has a market capitalization of $194.92 million, a P/E ratio of 41.79 and a beta of 0.82.

Evolution Petroleum (NYSE:EPM) last released its quarterly earnings data on Tuesday, September 10th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Evolution Petroleum had a return on equity of 4.59% and a net margin of 5.36%. The business had revenue of $21.23 million for the quarter, compared to analyst estimates of $24.44 million. Equities analysts expect that Evolution Petroleum will post 0.31 EPS for the current year.

Evolution Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 8.28%. The ex-dividend date of this dividend is Friday, December 13th. Evolution Petroleum’s payout ratio is currently 342.86%.

Hedge Funds Weigh In On Evolution Petroleum

A number of hedge funds have recently modified their holdings of EPM. Dynamic Technology Lab Private Ltd acquired a new stake in Evolution Petroleum during the 3rd quarter worth $105,000. Caprock Group LLC purchased a new stake in shares of Evolution Petroleum in the third quarter valued at about $71,000. CWA Asset Management Group LLC acquired a new stake in shares of Evolution Petroleum during the third quarter worth about $1,136,000. Creative Planning purchased a new position in shares of Evolution Petroleum during the third quarter worth about $53,000. Finally, Exchange Traded Concepts LLC acquired a new position in Evolution Petroleum in the 3rd quarter valued at about $297,000. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

About Evolution Petroleum

Evolution Petroleum Corporation, an energy company, engages in the development, production, ownership, and exploitation of onshore oil and gas properties in the United States. The company holds a non-operated interests in the SCOOP and STACK plays located in Central Oklahoma; the Chaveroo Field situated in Chaves and Roosevelt Counties, New Mexico; the Jonah Field located in Sublette County, Wyoming; the Williston Basin situated in Williston, North Dakota; the Barnett Shale field located in North Texas; the Hamilton Dome situated in Hot Springs County, Wyoming; and the Delhi Field, an onshore CO2-EOR project located in northeast Louisiana in Franklin, Madison, and Richland Parishes, as well as small overriding royalty interests in four onshore central Texas wells.