Cigna Investments Inc. New trimmed its position in Evolution Petroleum Corp (NYSEAMERICAN:EPM) by 45.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,806 shares of the energy company’s stock after selling 16,539 shares during the quarter. Cigna Investments Inc. New owned 0.06% of Evolution Petroleum worth $134,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in EPM. Advisor Group Inc. grew its stake in Evolution Petroleum by 45.5% in the fourth quarter. Advisor Group Inc. now owns 4,802 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,502 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Evolution Petroleum by 59,111.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,329 shares of the energy company’s stock worth $36,000 after acquiring an additional 5,320 shares during the period. SG Americas Securities LLC bought a new stake in Evolution Petroleum in the 4th quarter valued at $73,000. Meeder Asset Management Inc. boosted its stake in Evolution Petroleum by 35.6% in the 1st quarter. Meeder Asset Management Inc. now owns 14,903 shares of the energy company’s stock valued at $99,000 after purchasing an additional 3,912 shares during the period. Finally, Thrivent Financial for Lutherans bought a new stake in Evolution Petroleum in the 4th quarter valued at $125,000.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Evolution Petroleum from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Wednesday, April 24th. Northland Securities reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Evolution Petroleum in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Evolution Petroleum currently has a consensus rating of “Hold” and an average target price of $8.94.
Evolution Petroleum (NYSEAMERICAN:EPM) last issued its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $9.50 million during the quarter, compared to analyst estimates of $9.94 million.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.59%.
Evolution Petroleum 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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