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

Evolution Petroleum Co. (NYSEAMERICAN:EPM) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 8.47%. The ex-dividend date is Friday, June 14th.

Evolution Petroleum has raised its dividend by an average of 40.0% annually over the last three years. Evolution Petroleum has a dividend 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 decline. Equities 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 Trading Up 3.3 %

NYSEAMERICAN EPM traded up $0.18 on Wednesday, reaching $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 capitalization of $189.72 million, a P/E ratio of 11.44 and a beta of 0.91. Evolution Petroleum has a 52-week low of $5.00 and a 52-week high of $10.11.

Evolution Petroleum (NYSEAMERICAN:EPM) last issued its quarterly earnings data on Tuesday, February 6th. The energy company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). The firm had revenue of $21.02 million during 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%. As a group, sell-side analysts predict that Evolution Petroleum will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TheStreet cut Evolution Petroleum from a “b” rating to a “c+” rating in a research report on Wednesday, February 7th. Roth Mkm reaffirmed a “buy” rating and issued a $8.25 price target on shares of Evolution Petroleum in a report on Thursday, April 4th.

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.