Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) Plans $0.12 Quarterly Dividend

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) announced a quarterly dividend on Thursday, September 10th. Shareholders of record on Monday, September 21st will be paid a dividend of 0.12 per share by the energy company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 12.5%. The ex-dividend date of this dividend is Monday, September 21st.

Evolution Petroleum has raised its dividend by an average of 0.1%annually over the last three years. Evolution Petroleum has a dividend payout ratio of 4,800.0% indicating that 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 to earn $0.03 per share next year, which means the company may not be able to cover its $0.48 annual dividend with an expected future payout ratio of 1,600.0%.

Evolution Petroleum Stock Up 4.1%

EPM opened at $3.84 on Friday. The firm’s 50 day simple moving average is $3.69 and its two-hundred day simple moving average is $4.14. The company has a market capitalization of $138.05 million, a PE ratio of -34.91 and a beta of 0.25. Evolution Petroleum has a 1-year low of $3.19 and a 1-year high of $5.70. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Northland Securities raised Evolution Petroleum from a “market perform” rating to an “outperform” rating and set a $4.00 target price on the stock in a report on Friday, August 28th. Alliance Global Partners reaffirmed a “buy” rating on shares of Evolution Petroleum in a research report on Tuesday, August 25th. Zacks Research upgraded Evolution Petroleum from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Finally, Freedom Capital lowered shares of Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.77.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation (NYSE American: EPM) is an independent oil and natural gas company focused on enhanced oil recovery (EOR) through the use of carbon dioxide. Headquartered in Houston, Texas, the company specializes in acquiring and developing mature hydrocarbon reservoirs that benefit from CO₂ injection to increase production efficiency. Evolution Petroleum’s business model combines property acquisition, reservoir engineering, and CO₂ management to optimize recovery of oil and associated gas.

The company’s primary asset is the Jackson Dome CO₂ field in southwestern Mississippi, where natural carbon dioxide is produced, separated and reinjected into adjacent oil-bearing formations.