Evolution Petroleum Co. (NYSEAMERICAN:EPM) Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Evolution Petroleum Co. (NYSEAMERICAN:EPMGet Rating) by 67.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 51,252 shares of the energy company’s stock after acquiring an additional 20,658 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Evolution Petroleum were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EPM. Advisor Group Holdings Inc. lifted its stake in shares of Evolution Petroleum by 97.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,656 shares of the energy company’s stock valued at $25,000 after purchasing an additional 1,800 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Evolution Petroleum by 253,450.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,071 shares of the energy company’s stock valued at $34,000 after purchasing an additional 5,069 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Evolution Petroleum in the 1st quarter valued at $39,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Evolution Petroleum in the 1st quarter valued at $1,030,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Evolution Petroleum in the 1st quarter valued at $55,000. 61.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Roth Capital raised shares of Evolution Petroleum from a “neutral” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Thursday.

Evolution Petroleum Price Performance

Evolution Petroleum stock opened at $7.86 on Friday. The firm has a market cap of $263.67 million, a price-to-earnings ratio of -71.45 and a beta of 1.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.22 and a quick ratio of 2.22. Evolution Petroleum Co. has a fifty-two week low of $4.41 and a fifty-two week high of $8.55.

Evolution Petroleum (NYSEAMERICAN:EPMGet Rating) last released its earnings results on Tuesday, November 8th. The energy company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). The firm had revenue of $39.80 million for the quarter, compared to analyst estimates of $38.38 million. Evolution Petroleum had a positive return on equity of 14.47% and a negative net margin of 8.88%. Analysts forecast that Evolution Petroleum Co. will post 0.72 EPS for the current fiscal year.

Evolution Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date is Wednesday, December 14th. Evolution Petroleum’s dividend payout ratio is -436.32%.

Evolution Petroleum Profile

(Get Rating)

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 13,636 acres located in Northeast Louisiana.

Further Reading

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Institutional Ownership by Quarter for Evolution Petroleum (NYSEAMERICAN:EPM)

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