StockNews.com upgraded shares of Evolution Petroleum (NYSE:EPM – Free Report) from a sell rating to a hold rating in a research note published on Wednesday.
Separately, Northland Capmk upgraded Evolution Petroleum to a “strong-buy” rating in a research report on Thursday, October 17th.
Check Out Our Latest Report on Evolution Petroleum
Evolution Petroleum Trading Up 0.9 %
Evolution Petroleum (NYSE:EPM – Get Free Report) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $21.23 million for the quarter, compared to analyst estimates of $24.44 million. Evolution Petroleum had a return on equity of 4.65% and a net margin of 5.36%. Sell-side analysts predict that Evolution Petroleum will post 0.28 earnings per share for the current year.
Evolution Petroleum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 8.29%. The ex-dividend date is Friday, December 13th. Evolution Petroleum’s dividend payout ratio (DPR) is 342.88%.
Hedge Funds Weigh In On Evolution Petroleum
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Evolution Petroleum by 275.4% in the 3rd quarter. Barclays PLC now owns 45,331 shares of the company’s stock worth $242,000 after buying an additional 33,256 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in Evolution Petroleum by 21.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 37,872 shares of the company’s stock worth $202,000 after buying an additional 6,771 shares in the last quarter. XTX Topco Ltd bought a new position in Evolution Petroleum in the 3rd quarter worth approximately $112,000. Wellington Management Group LLP bought a new position in Evolution Petroleum in the 3rd quarter worth approximately $63,000. Finally, State Street Corp grew its holdings in Evolution Petroleum by 1.0% in the 3rd quarter. State Street Corp now owns 665,239 shares of the company’s stock worth $3,532,000 after buying an additional 6,675 shares in the last quarter. 60.07% of the stock is owned by 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.
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