Northland Capmk Comments on Evolution Petroleum Co.’s FY2024 Earnings (NYSEAMERICAN:EPM)

Evolution Petroleum Co. (NYSEAMERICAN:EPM) – Stock analysts at Northland Capmk cut their FY2024 earnings estimates for shares of Evolution Petroleum in a report released on Thursday, May 9th. Northland Capmk analyst D. Schafer now forecasts that the energy company will post earnings of $0.17 per share for the year, down from their previous forecast of $0.22. The consensus estimate for Evolution Petroleum’s current full-year earnings is $0.19 per share. Northland Capmk also issued estimates for Evolution Petroleum’s Q4 2024 earnings at $0.09 EPS, Q4 2025 earnings at $0.15 EPS and FY2025 earnings at $0.59 EPS.

Other equities research analysts have also recently issued research reports about the company. TheStreet cut Evolution Petroleum from a “b” rating to a “c+” rating in a research note on Wednesday, February 7th. Roth Mkm reissued a “buy” rating and issued a $8.25 price objective on shares of Evolution Petroleum in a research report on Thursday, April 4th. Finally, StockNews.com cut shares of Evolution Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday.

Evolution Petroleum Stock Down 0.3 %

EPM opened at $5.63 on Friday. Evolution Petroleum has a 12-month low of $5.00 and a 12-month high of $10.11. The company has a market capitalization of $188.21 million, a PE ratio of 11.72 and a beta of 0.91.

Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings results on Tuesday, February 6th. The energy company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). The business had revenue of $21.02 million for the quarter, compared to the consensus estimate of $23.67 million. Evolution Petroleum had a return on equity of 18.44% and a net margin of 17.25%.

Evolution Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.48 annualized dividend and a yield of 8.53%. Evolution Petroleum’s dividend payout ratio (DPR) is presently 100.00%.

Hedge Funds Weigh In On Evolution Petroleum

A number of hedge funds have recently bought and sold shares of EPM. Janney Montgomery Scott LLC grew its position in Evolution Petroleum by 10.1% during the first quarter. Janney Montgomery Scott LLC now owns 55,472 shares of the energy company’s stock worth $341,000 after buying an additional 5,084 shares in the last quarter. Prosperity Consulting Group LLC acquired a new stake in Evolution Petroleum during the first quarter worth approximately $328,000. North Star Investment Management Corp. grew its position in Evolution Petroleum by 8.9% during the first quarter. North Star Investment Management Corp. now owns 769,369 shares of the energy company’s stock worth $4,724,000 after buying an additional 63,105 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in Evolution Petroleum during the first quarter worth approximately $71,000. Finally, Principal Financial Group Inc. acquired a new stake in Evolution Petroleum during the first quarter worth approximately $95,000. 60.07% of the stock is owned by institutional investors.

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.