Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM – Get Free Report) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.7625.
Several analysts recently commented on the stock. Alliance Global Partners restated a “buy” rating on shares of Evolution Petroleum in a research report on Tuesday, August 25th. Northland Securities set a $4.25 price target on Evolution Petroleum in a research note on Thursday, September 17th. Zacks Research upgraded Evolution Petroleum from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. Finally, Freedom Broker raised Evolution Petroleum from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a report on Tuesday.
Get Our Latest Analysis on EPM
Evolution Petroleum Stock Performance
Evolution Petroleum (NYSEAMERICAN:EPM – Get Free Report) last posted its quarterly earnings results on Tuesday, September 15th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The business had revenue of $24.21 million for the quarter, compared to analysts’ expectations of $23.23 million. Evolution Petroleum had a negative return on equity of 5.41% and a negative net margin of 2.81%. On average, analysts forecast that Evolution Petroleum will post 0.05 earnings per share for the current fiscal year.
Evolution Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $0.48 dividend on an annualized basis and a yield of 13.0%. Evolution Petroleum’s dividend payout ratio (DPR) is currently 600.08%.
Hedge Funds Weigh In On Evolution Petroleum
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Evolution Petroleum in the 2nd quarter valued at about $8,894,000. WealthTrust Axiom LLC boosted its stake in Evolution Petroleum by 9.4% during the 4th quarter. WealthTrust Axiom LLC now owns 1,948,657 shares of the energy company’s stock worth $6,898,000 after purchasing an additional 166,624 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Evolution Petroleum by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,453,218 shares of the energy company’s stock worth $6,656,000 after purchasing an additional 32,641 shares during the last quarter. Castleview Partners LLC grew its holdings in shares of Evolution Petroleum by 21.7% during the first quarter. Castleview Partners LLC now owns 95,300 shares of the energy company’s stock worth $436,000 after buying an additional 17,000 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Evolution Petroleum in the second quarter valued at about $312,000. 60.07% of the stock is owned by hedge funds and other institutional investors.
About Evolution Petroleum
Evolution Petroleum Corporation is an independent energy company engaged in the acquisition, development, and operation of oil and natural gas properties. The company focuses primarily on mature, long-life assets in the United States, with an emphasis on properties that can benefit from enhanced oil recovery, operational improvements, and additional development.
Evolution Petroleum’s flagship asset is its interest in the Delhi Field in northeastern Louisiana, where carbon dioxide is used in a miscible flood program to increase oil recovery from an established reservoir.
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