Evolution Petroleum (NYSEAMERICAN:EPM – Get Rating) released its earnings results on Tuesday. The energy company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04, Fidelity Earnings reports. Evolution Petroleum had a negative net margin of 8.88% and a positive return on equity of 14.47%.
Evolution Petroleum Trading Up 19.4 %
EPM stock opened at $8.11 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.22 and a current ratio of 2.22. Evolution Petroleum has a twelve month low of $4.41 and a twelve month high of $8.27. The firm has a market capitalization of $273.65 million, a price-to-earnings ratio of -73.72 and a beta of 1.23.
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Evolution Petroleum Increases Dividend
The firm also recently announced a dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 21st will be paid a $0.12 dividend. This is a positive change from Evolution Petroleum's previous dividend of $0.10. The ex-dividend date is Tuesday, September 20th. Evolution Petroleum's dividend payout ratio (DPR) is presently -363.60%.
Institutional Trading of Evolution Petroleum
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. increased its stake in shares of Evolution Petroleum by 97.0% during the first quarter. Advisor Group Holdings Inc. now owns 3,656 shares of the energy company's stock valued at $25,000 after buying an additional 1,800 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Evolution Petroleum by 253,450.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,071 shares of the energy company's stock valued at $34,000 after buying an additional 5,069 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Evolution Petroleum during the first quarter valued at $39,000. PNC Financial Services Group Inc. purchased a new position in shares of Evolution Petroleum during the first quarter valued at $55,000. Finally, LPL Financial LLC purchased a new position in shares of Evolution Petroleum during the second quarter valued at $61,000. Hedge funds and other institutional investors own 61.84% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Roth Capital downgraded Evolution Petroleum from a "buy" rating to a "neutral" rating and set a $9.50 price target for the company. in a research note on Wednesday, July 6th. Northland Securities initiated coverage on Evolution Petroleum in a research note on Tuesday, July 12th. They issued an "outperform" rating and a $8.60 price target for the company.
About Evolution Petroleum
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Evolution Petroleum Corporation, an oil and natural gas company, engages in the development, production, ownership, and management of 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 13,636 acres located in Northeast Louisiana.
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