Evolution Petroleum Corp Gets a Buy Rating from Scotiabank

By Jason Carr

Scotiabank analyst Brian Corales maintained a Buy rating on Evolution Petroleum Corp (NYSE MKT: EPM) today and set a price target of $10. The company’s shares opened today at $7.45.

According to TipRanks.com, Corales is ranked 0 out of 5 stars with an average return of -13.7% and a 25.8% success rate. Corales covers the Basic Materials sector, focusing on stocks such as Quicksilver Resources Inc, Sundance Energy Australia, and Whiting Petroleum Corp.

Currently, the analyst consensus on Evolution Petroleum Corp is Moderate Buy and the average price target is $10.25, representing a 37.6% upside.

In a report issued on May 22, Roth Capital also reiterated a Buy rating on the stock with a $10.50 price target.

The company has a one year high of $10.20 and a one year low of $5.07. Currently, Evolution Petroleum Corp has an average volume of 115.8K.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EPM in relation to earlier this year. Most recently, in February 2017, Jvl Advisors, L.L.C., a Major Shareholder at EPM sold 56,988 shares for a total of $516,087.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Evolution Petroleum Corp. engages in the acquisition, exploitation and development of properties for the production of crude oil and natural gas. It also applies its proprietary artificial lift technology for recovering incremental oil and gas from existing wells. Its other projects include operations in Giddings Field, Lopez Field, and Mississippi Lime. The company was founded by Laird Q. Cagan and Robert S. Herlin in September 2003 and is headquartered in Houston, TX.