In a report released today, Jeff Grampp from Northland Securities reiterated a Hold rating on Evolution Petroleum Corp (EPM), with a price target of $7.50. The company’s shares closed last Monday at $5.98, close to its 52-week low of $5.75.
Grampp said:
“We reiterate our Market Perform rating and $7.50 PT, equating to 10.4x FY2020 EV/EBITDA.”
According to TipRanks.com, Grampp has 0 stars on 0-5 star ranking scale with an average return of -16.9% and a 20.6% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.
Currently, the analyst consensus on Evolution Petroleum Corp is a Hold with an average price target of $7.50.
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Based on Evolution Petroleum Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $2.4 million. In comparison, last year the company had a net profit of $4.53 million.
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Evolution Petroleum Corp. engages in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas. It holds interests in the Carbon Dioxide enhanced oil recovery project in Louisiana’s Delhi Field. The company was founded by Robert S. Herlin in September 2003 and is headquartered in Houston, TX.
