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Evolution Petroleum Corp (NYSEAMERICAN:EPM) Stake Cut by Allianz Asset Management GmbH

By September 17, 2019 No Comments

Allianz Asset Management GmbH trimmed its holdings in shares of Evolution Petroleum Corp (NYSEAMERICAN:EPM) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,342 shares of the energy company’s stock after selling 8,283 shares during the period. Allianz Asset Management GmbH owned about 1.18% of Evolution Petroleum worth $2,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its holdings in shares of Evolution Petroleum by 59,111.1% during the first quarter. BNP Paribas Arbitrage SA now owns 5,329 shares of the energy company’s stock worth $36,000 after purchasing an additional 5,320 shares during the period. Stone Ridge Asset Management LLC increased its stake in shares of Evolution Petroleum by 103.3% during the second quarter. Stone Ridge Asset Management LLC now owns 20,646 shares of the energy company’s stock valued at $148,000 after purchasing an additional 10,489 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Evolution Petroleum during the first quarter valued at approximately $146,000. State Board of Administration of Florida Retirement System bought a new position in shares of Evolution Petroleum during the second quarter valued at approximately $177,000. Finally, Amica Retiree Medical Trust bought a new position in shares of Evolution Petroleum during the first quarter valued at approximately $195,000.

Several brokerages recently weighed in on EPM. Zacks Investment Research downgraded shares of Evolution Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday. Northland Securities reissued a “hold” rating and set a $6.50 price target on shares of Evolution Petroleum in a research report on Monday.

Shares of Evolution Petroleum stock traded up $0.25 during trading hours on Monday, reaching $6.51. The company’s stock had a trading volume of 2,323 shares, compared to its average volume of 144,034. Evolution Petroleum Corp has a one year low of $5.53 and a one year high of $12.83.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results on Wednesday, September 11th. The energy company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $10.37 million for the quarter, compared to analysts’ expectations of $10.39 million.

The company also recently declared a dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 12th. This is an increase from Evolution Petroleum’s previous dividend of $0.05.

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.

Read More: Capital gains and your 401(k) or IRA

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

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