Evolution Petroleum Corporation (EPM) To Go Ex-Dividend on June 13th

Evolution Petroleum Corporation (NYSE:EPM) declared a quarterly dividend on Tuesday, May 13th, RTT News reports. Investors of record on Friday, June 13th will be paid a dividend of 0.12 per share on Monday, June 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.62%. The ex-dividend date is Friday, June 13th.

Evolution Petroleum has raised its dividend payment by an average of 27.8% annually over the last three years. Evolution Petroleum has a dividend payout ratio of 300.0% 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 to earn $0.16 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 300.0%.

Evolution Petroleum Stock Performance

Evolution Petroleum stock opened at $4.52 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. Evolution Petroleum has a 1-year low of $4.05 and a 1-year high of $6.14. The firm has a market capitalization of $154.83 million, a P/E ratio of 90.42 and a beta of 0.49. The company’s 50-day moving average is $4.58 and its 200 day moving average is $5.11.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EPM shares. StockNews.com lowered shares of Evolution Petroleum from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Northland Capmk lowered shares of Evolution Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Alliance Global Partners assumed coverage on shares of Evolution Petroleum in a research report on Wednesday, May 7th. They set a “buy” rating and a $5.70 target price on the stock. Finally, Northland Securities reduced their target price on shares of Evolution Petroleum from $7.00 to $6.50 and set an “outperform” rating on the stock in a research report on Thursday, February 6th.

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.