Evolution Petroleum (NYSEAMERICAN:EPM) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Evolution Petroleum (NYSEAMERICAN:EPM) from a sell rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Natural Gas Systems, Inc. is a development stage company formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production and develop incremental reserves, particularly in low permeability reservoirs amenable to lateral drilling technology. “

Shares of Evolution Petroleum stock opened at $6.07 on Monday. Evolution Petroleum has a 1 year low of $5.81 and a 1 year high of $12.83.

Evolution Petroleum (NYSEAMERICAN:EPM) last announced its earnings results on Wednesday, May 8th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $9.50 million for the quarter, compared to analyst estimates of $9.94 million.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Evolution Petroleum by 8.2% in the 4th quarter. BlackRock Inc. now owns 3,310,261 shares of the energy company’s stock worth $22,576,000 after acquiring an additional 249,829 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Evolution Petroleum by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,142,562 shares of the energy company’s stock worth $7,793,000 after acquiring an additional 71,861 shares during the last quarter. WealthTrust Axiom LLC lifted its holdings in shares of Evolution Petroleum by 4.8% in the 1st quarter. WealthTrust Axiom LLC now owns 667,421 shares of the energy company’s stock worth $4,505,000 after acquiring an additional 30,772 shares during the last quarter. River Road Asset Management LLC raised its holdings in Evolution Petroleum by 3.8% during the 1st quarter. River Road Asset Management LLC now owns 617,642 shares of the energy company’s stock valued at $4,169,000 after buying an additional 22,890 shares during the last quarter. Finally, Foundry Partners LLC raised its holdings in Evolution Petroleum by 14.0% during the 2nd quarter. Foundry Partners LLC now owns 514,715 shares of the energy company’s stock valued at $3,680,000 after buying an additional 63,075 shares during the last quarter.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.

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