Bank of New York Mellon Corp Reduces Stake in Evolution Petroleum Corporation

Bank of New York Mellon Corp has reduced its investment in Evolution Petroleum Corporation (NYSE:EPM) by 38.2% during the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). Following the reduction, the institutional investor now holds 248,872 shares of the company, having sold 153,807 shares during this period. At the close of the most recent quarter, Bank of New York Mellon Corp's stake in Evolution Petroleum was valued at approximately $1,302,000, representing 0.74% of the total shares outstanding.

A number of other institutional investors have also adjusted their stakes in Evolution Petroleum recently. For instance, State Street Corp increased its holdings by 1.0% in the third quarter and now owns 665,239 shares, valued at $3,532,000, after purchasing an additional 6,675 shares. Similarly, Register Financial Advisors LLC raised its stake by 0.8% in the most recent quarter, holding 289,902 shares worth $1,516,000 after acquiring 2,303 shares. CWA Asset Management Group LLC raised its position by 9.7%, now owning 234,562 shares valued at $1,227,000 after a purchase of 20,692 shares.

Additionally, Quantinno Capital Management LP significantly increased its stake by 278.3% in the third quarter, bringing its total to 51,000 shares worth $271,000, following the purchase of 37,519 shares. Barclays PLC also boosted its position by 275.4%, now holding 45,331 shares worth $242,000 after acquiring an additional 33,256 shares. Overall, institutional investors and hedge funds collectively own 60.07% of Evolution Petroleum’s stock.

Stock Performance of Evolution Petroleum

Shares of Evolution Petroleum have decreased by 1.4%, opening at $4.98. The stock's fifty-day simple moving average stands at $5.22. With a market capitalization of $170.58 million, the company reports a price-to-earnings ratio of 99.62 and a beta of 0.87. The stock has seen a low of $4.59 and a high of $6.28 over the past year, with liquidity ratios showing a quick ratio of 1.64 and a current ratio of 1.64. The company maintains a debt-to-equity ratio of 0.52.

Dividend Announcement by Evolution Petroleum

Recently, Evolution Petroleum announced a quarterly dividend payment slated for March 31st. Shareholders on record as of March 14th will receive a dividend of $0.12 per share, with the ex-dividend date also set for March 14th. Over an annualized basis, this equates to a total dividend of $0.48, yielding 9.64%. Currently, the company’s dividend payout ratio (DPR) stands unusually high at 960.00%.

Changes in Analyst Ratings

Several analyst firms have expressed their views on Evolution Petroleum shares. Northland Securities has lowered its price target for the stock from $7.00 to $6.50, maintaining an "outperform" rating as of February 6th. Conversely, StockNews.com has downgraded the stock's rating from "hold" to "sell" as of February 7th.

Overview of Evolution Petroleum Corporation

Evolution Petroleum Corporation operates as an energy company focused on the development and production of onshore oil and gas properties across the United States. The company has interest in several key regions including the SCOOP and STACK plays in Central Oklahoma, the Chaveroo Field in New Mexico, Jonah Field in Wyoming, and several properties in North Dakota and Texas. The company is also involved in a CO2-EOR project located in Louisiana.

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