Evolution Petroleum Corporation Announces Quarterly Dividend of $0.12 (NYSE:EPM)

Evolution Petroleum Corporation (NYSE:EPM) announced a quarterly dividend on Monday, September 9th, NASDAQ reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.12 per share on Monday, September 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date of this dividend is Friday, September 20th.

Evolution Petroleum has raised its dividend by an average of 40.0% per year over the last three years. Evolution Petroleum has a dividend payout ratio of 184.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Evolution Petroleum Stock Up 3.5 %

Shares of EPM stock opened at $5.73 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.49. The stock has a market capitalization of $190.76 million, a PE ratio of 71.57 and a beta of 0.81. Evolution Petroleum has a one year low of $4.59 and a one year high of $7.26.

Evolution Petroleum (NYSE:EPM) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $21.23 million during the quarter, compared to the consensus estimate of $24.44 million. Evolution Petroleum had a net margin of 4.75% and a return on equity of 5.39%. As a group, research analysts expect that Evolution Petroleum will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Evolution Petroleum to a “sell” rating in a research note on Sunday.

About Evolution Petroleum

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 a non-operated interests in the SCOOP and STACK plays located in Central Oklahoma; the Chaveroo Field situated in Chaves and Roosevelt Counties, New Mexico; the Jonah Field located in Sublette County, Wyoming; the Williston Basin situated in Williston, North Dakota; the Barnett Shale field located in North Texas; the Hamilton Dome situated in Hot Springs County, Wyoming; and the Delhi Field, an onshore CO2-EOR project located in northeast Louisiana in Franklin, Madison, and Richland Parishes, as well as small overriding royalty interests in four onshore central Texas wells.