Evolution Petroleum Corp. Downgraded by Zacks to Underperform (EPM)

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Zacks cut shares of Evolution Petroleum Corp. (NYSE:EPM) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday, AR Network reports. The firm currently has $11.10 price target on the stock.

Zacks has also updated their ratings on a number of other energy stocks in the last week. The firm downgraded shares of Knightsbridge Tankers Limited from an outperform rating to a neutral rating. Their analysts now have a $11.90 price target on that stock. Also, Zacks upgraded shares of Golar LNG Ltd. from an underperform rating to a neutral rating. Zacks now has a $45.70 price target on that stock.

Evolution Petroleum Corp. (NYSE:EPM) traded down 1.36% on Wednesday, hitting $11.64. 78,137 shares of the company’s stock traded hands. Evolution Petroleum Corp. has a 1-year low of $9.62 and a 1-year high of $13.83. The stock has a 50-day moving average of $12.47 and a 200-day moving average of $12.46. The company has a market cap of $370.3 million and a P/E ratio of 98.33. Evolution Petroleum Corp. also was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 706,088 shares, a growth of 4.6% from the March 31st total of 675,032 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily volume of 67,514 shares, the short-interest ratio is currently 10.5 days.

Evolution Petroleum Corp. (NYSE:EPM) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. On average, analysts predict that Evolution Petroleum Corp. will post $0.28 earnings per share for the current fiscal year.

Evolution Petroleum Corporation (NYSE:EPM) is a petroleum company engaged primarily in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States.

To view Zacks’ full report, visit Zacks’ official website.

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