Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM – Get Free Report) announced a quarterly dividend on Tuesday, November 10th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.12 per share by the energy company on Thursday, December 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date of this dividend is Tuesday, December 15th.
Evolution Petroleum has raised its dividend payment by an average of 0.1% annually over the last three years. Evolution Petroleum has a payout ratio of 4,800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Evolution Petroleum to earn $0.09 per share next year, which means the company may not be able to cover its $0.48 annual dividend with an expected future payout ratio of 533.3%.
Evolution Petroleum Stock Down 9.7%
Shares of NYSEAMERICAN:EPM traded down $0.34 during trading on Wednesday, hitting $3.23. 438,126 shares of the company’s stock traded hands, compared to its average volume of 421,292. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $3.68 and a 200-day moving average price of $4.04. Evolution Petroleum has a 52 week low of $3.19 and a 52 week high of $4.99. The company has a market cap of $131.10 million, a price-to-earnings ratio of -40.56 and a beta of 0.42.
Evolution Petroleum (NYSEAMERICAN:EPM – Get Free Report) last posted its earnings results on Tuesday, November 10th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Evolution Petroleum had a negative return on equity of 5.41% and a negative net margin of 2.81%. The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $22.57 million. As a group, research analysts forecast that Evolution Petroleum will post 0.05 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on EPM shares. Zacks Research raised shares of Evolution Petroleum from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Northland Securities set a $4.25 price target on shares of Evolution Petroleum in a report on Thursday, September 17th. Freedom Broker raised shares of Evolution Petroleum from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Tuesday, September 22nd. Finally, Alliance Global Partners restated a “buy” rating on shares of Evolution Petroleum in a report on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Evolution Petroleum has an average rating of “Moderate Buy” and an average price target of $4.76.
Read Our Latest Stock Report on EPM
Evolution Petroleum Company Profile
Evolution Petroleum Corporation is an independent oil and natural gas company focused on acquiring, developing and optimizing mature, long-lived producing properties in the United States. The company emphasizes assets that can generate production and cash flow through enhanced oil recovery, operational improvements and reservoir management. Evolution Petroleum’s portfolio has historically included the Delhi Field in northeastern Louisiana, where carbon dioxide injection is used for tertiary oil recovery.
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