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Evolution Petroleum reinstated with a Buy at Roth Capital

Roth Capital analyst Nick Pope reinstated coverage of Evolution Petroleum (EPM) with a Buy rating and $5 price target The firm says the company’s “diversified” production mix, focus on acquiring mature assets with lower declines, and its “healthy” return of capital provide a platform for continued growth. Roth believes Evolution’s annualized dividend yield of 12.2% is sustainable and covered by its free cash flow.

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