Evolution Petroleum Corp (NYSEAMERICAN:EPM) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 999,800 shares, an increase of 40.4% from the July 31st total of 712,300 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average trading volume of 134,400 shares, the days-to-cover ratio is presently 7.4 days.
Shares of EPM stock opened at $6.29 on Friday. Evolution Petroleum has a twelve month low of $5.53 and a twelve month high of $12.83.
The company also recently announced a dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.10 dividend. This is a boost from Evolution Petroleum’s previous dividend of $0.05. The ex-dividend date is Thursday, September 12th.
Several hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. boosted its position in Evolution Petroleum by 18.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,834 shares of the energy company’s stock worth $84,000 after purchasing an additional 1,830 shares in the last quarter. Bard Associates Inc. increased its stake in Evolution Petroleum by 2.2% during the second quarter. Bard Associates Inc. now owns 157,650 shares of the energy company’s stock worth $1,127,000 after acquiring an additional 3,400 shares during the last quarter. Strs Ohio increased its stake in Evolution Petroleum by 7.5% during the second quarter. Strs Ohio now owns 75,800 shares of the energy company’s stock worth $541,000 after acquiring an additional 5,300 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in 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 acquiring an additional 5,320 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Evolution Petroleum by 0.4% during the second quarter. Vanguard Group Inc. now owns 1,541,259 shares of the energy company’s stock worth $11,020,000 after acquiring an additional 6,544 shares during the last quarter.
Separately, Zacks Investment Research cut Evolution Petroleum from a “hold” rating to a “sell” rating in a report on Thursday.
About Evolution Petroleum
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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