Evolution Petroleum (NYSEAMERICAN:EPM) Shares Cross Above 50-Day Moving Average – Here’s Why

Evolution Petroleum Co. (NYSEAMERICAN:EPM)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.00 and traded as high as $5.29. Evolution Petroleum shares last traded at $4.97, with a volume of 204,053 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Evolution Petroleum to a “sell” rating in a research note on Wednesday, September 11th.

Evolution Petroleum Trading Down 5.2 %

The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.51. The firm has a market cap of $165.80 million, a P/E ratio of 62.13 and a beta of 0.81.

Hedge Funds Weigh In On Evolution Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Evolution Petroleum by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 400,178 shares of the energy company’s stock valued at $2,109,000 after buying an additional 26,286 shares during the last quarter. Renaissance Technologies LLC raised its stake in Evolution Petroleum by 4.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,315,383 shares of the energy company’s stock valued at $6,932,000 after acquiring an additional 58,586 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Evolution Petroleum by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,336,348 shares of the energy company’s stock worth $7,043,000 after acquiring an additional 5,250 shares during the period. Perritt Capital Management Inc boosted its position in Evolution Petroleum by 13.2% during the 2nd quarter. Perritt Capital Management Inc now owns 198,887 shares of the energy company’s stock worth $1,048,000 after acquiring an additional 23,120 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Evolution Petroleum by 5.5% in the second quarter. American Century Companies Inc. now owns 572,850 shares of the energy company’s stock worth $3,019,000 after purchasing an additional 29,823 shares in the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

Evolution Petroleum Company Profile

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 interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of approximately 13,636 acres located in Northeast Louisiana.