Evolution Petroleum Co. (NYSEAMERICAN:EPM – Get Rating) announced a dividend on Wednesday, September 14th, Fidelity reports. Investors of record on Wednesday, September 21st will be given a dividend of 0.12 per share by the energy company on Friday, September 30th. The ex-dividend date is Tuesday, September 20th. This is a positive change from Evolution Petroleum's previous dividend of $0.10.
Evolution Petroleum has decreased its dividend payment by an average of 16.8% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Evolution Petroleum has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings.
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EPM opened at $8.11 on Thursday. The firm has a market cap of $273.65 million, a price-to-earnings ratio of -73.72 and a beta of 1.23. Evolution Petroleum has a fifty-two week low of $4.41 and a fifty-two week high of $8.27. 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 (NYSEAMERICAN:EPM – Get Rating) last released its quarterly earnings data on Tuesday, September 13th. The energy company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04. Evolution Petroleum had a positive return on equity of 14.47% and a negative net margin of 8.88%. On average, sell-side analysts anticipate that Evolution Petroleum will post 0.72 EPS for the current fiscal year.Analyst Upgrades and Downgrades
Several research firms have recently commented on EPM. Roth Capital cut shares of Evolution Petroleum from a "buy" rating to a "neutral" rating and set a $9.50 price target on the stock. in a research note on Wednesday, July 6th. Northland Securities assumed 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.
Hedge Funds Weigh In On Evolution Petroleum
A number of institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its holdings in Evolution Petroleum by 97.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,656 shares of the energy company's stock valued at $25,000 after purchasing an additional 1,800 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Evolution Petroleum by 253,450.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,071 shares of the energy company's stock worth $34,000 after buying an additional 5,069 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Evolution Petroleum during the first quarter worth $39,000. PNC Financial Services Group Inc. bought a new stake in shares of Evolution Petroleum in the first quarter valued at about $55,000. Finally, LPL Financial LLC acquired a new position in shares of Evolution Petroleum in the second quarter valued at about $61,000. 61.84% of the stock is currently owned by institutional investors and hedge funds.
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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