Evolution Petroleum Co. (NYSEAMERICAN:EPM) Announces $0.12 Quarterly Dividend

Evolution Petroleum Co. (NYSEAMERICAN:EPM) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.12 per share by the energy company on Friday, June 28th. This represents a $0.48 annualized dividend and a yield of 8.47%. The ex-dividend date of this dividend is Friday, June 14th.

Evolution Petroleum has increased its dividend by an average of 40.0% annually over the last three years. Evolution Petroleum has a payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Evolution Petroleum to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 88.9%.

Evolution Petroleum Stock Up 3.3 %

Shares of NYSEAMERICAN EPM traded up $0.18 during trading on Wednesday, hitting $5.67. The company had a trading volume of 314,056 shares, compared to its average volume of 320,466. The firm has a market cap of $189.72 million, a price-to-earnings ratio of 11.44 and a beta of 0.91. Evolution Petroleum has a fifty-two week low of $5.00 and a fifty-two week high of $10.11.

Evolution Petroleum (NYSEAMERICAN:EPM) last posted its earnings results on Tuesday, February 6th. The energy company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). The firm had revenue of $21.02 million during the quarter, compared to analyst estimates of $23.67 million. Evolution Petroleum had a net margin of 17.25% and a return on equity of 18.44%. Equities research analysts anticipate that Evolution Petroleum will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPM. Roth Mkm reissued a “buy” rating and issued a $8.25 price target on shares of Evolution Petroleum in a research report on Thursday, April 4th. TheStreet downgraded Evolution Petroleum from a “b” rating to a “c+” rating in a report on Wednesday, February 7th.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation, an energy company, engages in the development, production, ownership, and exploitation of onshore oil and gas properties in the United States. The company holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of approximately 13,636 acres located in Northeast Louisiana.