Evolution Petroleum Corp (NYSE:EPM) announced a quarterly dividend on Friday, August 11th, Wall Street Journal reports. Investors of record on Friday, September 15th will be paid a dividend of 0.075 per share by the energy company on Friday, September 29th. This represents a $0.30 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.07.

Evolution Petroleum Corp has raised its dividend payment by an average of 29.1% annually over the last three years. Evolution Petroleum Corp has a dividend payout ratio of 103.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Evolution Petroleum Corp to earn $0.34 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 82.4%.

Shares of Evolution Petroleum Corp (EPM) traded down 2.53% during mid-day trading on Friday, reaching $7.70. The company had a trading volume of 42,398 shares. The firm has a 50-day moving average of $8.07 and a 200-day moving average of $8.06. Evolution Petroleum Corp has a 12-month low of $5.21 and a 12-month high of $10.20. The company has a market capitalization of $251.54 million and a P/E ratio of 9.78.

Evolution Petroleum Corp (NYSE:EPM) last released its quarterly earnings results on Monday, May 8th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.01. Evolution Petroleum Corp had a return on equity of 14.11% and a net margin of 25.40%. The company had revenue of $9.53 million during the quarter, compared to the consensus estimate of $9.65 million. On average, equities analysts anticipate that Evolution Petroleum Corp will post $0.27 earnings per share for the current fiscal year.

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A number of equities analysts recently issued reports on EPM shares. BidaskClub raised shares of Evolution Petroleum Corp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded shares of Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Scotiabank set a $10.00 price target on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Finally, Roth Capital set a $11.00 price target on shares of Evolution Petroleum Corp and gave the stock a “buy” rating in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.00.

Evolution Petroleum Corp Company Profile

Evolution Petroleum Corporation is an independent oil and gas company. The Company is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.

Dividend History for Evolution Petroleum Corp (NYSE:EPM)

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