Evolution Petroleum Corp (EPM) was Initiated by Scotia Howard Weil to “Sector Outperform” and the brokerage firm has set the Price Target at $10. Scotia Howard Weil advised their investors in a research report released on Oct 10, 2016.
On the company’s financial health, Evolution Petroleum Corp reported $-0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.05. The company had revenue of $5.12 million for the quarter, compared to analysts expectations of $7.18 million. The company’s revenue was down -27.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.
Evolution Petroleum Corp opened for trading at $7.19 and hit $7.6 on the upside on Friday, eventually ending the session at $7.4, with a gain of 2.35% or 0.17 points. The heightened volatility saw the trading volume jump to 2,42,358 shares. Company has a market cap of $244 M.
In a different news, on Feb 18, 2016, David Joe (SVP & CFO) sold 17,019 shares at $4.45 per share price. According to the SEC, on Sep 23, 2015, Daryl V Mazzanti (Senior V.P. Operations) purchased 60 shares at $25.01 per share price. On Apr 1, 2015, Randall D Keys (CFO) purchased 10,000 shares at $5.94 per share price, according to the Form-4 filing with the securities and exchange commission.
Evolution Petroleum Corporation is an independent petroleum company. The Company is engaged in the acquisition exploitation and development of properties for the production of crude oil and natural gas onshore in the United States. The Company focuses on applying artificial lift technology called Gas Assisted Rod Pump (GARP) for recovering incremental oil and gas from existing wells. The Company’s projects include Delhi Field Giddings Field and Lopez Field. The Company’s mineral interests in the Delhi Holt-Bryant Unit in the Delhi Field (Unit) are located in Northeast Louisiana. The Unit is approximately 13636 acres in size. The Unit has a production totaling approximately 195 million barrels (bbls) of oil through primary and limited secondary recovery operations. The Company’s Giddings Field is located in Central Texas. The Company’s Lopez Field is located in South Texas. The Company has leases covering approximately 782 net acres in the Lopez Field in South Texas.