Evolution Petroleum Co. (EPM) to Issue Quarterly Dividend of $0.12 on September 29th

Evolution Petroleum Co. (NYSEAMERICAN:EPM) announced a quarterly dividend on Wednesday, September 13th, Wall Street Journal reports. Investors of record on Friday, September 22nd will be given a dividend of 0.12 per share by the energy company on Friday, September 29th. This represents a $0.48 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend is Thursday, September 21st.

Evolution Petroleum has increased its dividend by an average of 3.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Evolution Petroleum has a dividend payout ratio of 109.1% 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 Performance

NYSEAMERICAN:EPM opened at $6.97 on Tuesday. The firm has a market capitalization of $231.52 million, a PE ratio of 7.06 and a beta of 0.98. Evolution Petroleum has a one year low of $5.39 and a one year high of $10.11. The stock has a 50-day simple moving average of $7.38.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EPM shares. StockNews.com started coverage on Evolution Petroleum in a research note on Wednesday, August 23rd. They set a “hold” rating for the company. Roth Mkm reiterated a “buy” rating and set a $9.50 price objective on shares of Evolution Petroleum in a research note on Monday.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. lifted its position in shares of Evolution Petroleum by 97.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,656 shares of the energy company’s stock worth $25,000 after buying an additional 1,800 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Evolution Petroleum by 120.5% in the first quarter. JPMorgan Chase & Co. now owns 21,304 shares of the energy company’s stock worth $145,000 after acquiring an additional 11,643 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Evolution Petroleum by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 214,494 shares of the energy company’s stock valued at $1,456,000 after purchasing an additional 2,763 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Evolution Petroleum by 34.0% during the first quarter. American Century Companies Inc. now owns 65,972 shares of the energy company’s stock valued at $448,000 after purchasing an additional 16,729 shares during the last quarter. Finally, Citigroup Inc. acquired a new stake in shares of Evolution Petroleum during the 1st quarter worth approximately $182,000. Institutional investors own 61.68% of the company’s stock.

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.