Evolution Petroleum Corporation, Inc. (EPM) to Distribute Quarterly Dividend of $0.12 on December 31st

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) declared a quarterly dividend on Monday, November 9th. Investors of record on Tuesday, December 15th will be given a dividend of $0.12 per share by the energy company on Thursday, December 31st. This represents a $0.48 dividend on an annualized basis and a yield of 14.7%. The ex-dividend date is Tuesday, December 15th.

Evolution Petroleum has increased 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Evolution Petroleum to earn $0.09 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 533.3%.

Evolution Petroleum Stock Down 8.5%

NYSEAMERICAN:EPM traded down $0.30 during trading hours on Wednesday, hitting $3.27. 662,851 shares of the stock traded hands, compared to its average volume of 422,419. The firm has a 50 day moving average price of $3.68 and a 200 day moving average price of $4.04. The firm has a market cap of $132.72 million, a price-to-earnings ratio of -40.81 and a beta of 0.42. Evolution Petroleum has a fifty-two week low of $3.19 and a fifty-two week high of $4.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.94.

Evolution Petroleum (NYSEAMERICAN:EPM) last issued its quarterly earnings results on Tuesday, November 10th. The energy company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $22.57 million. Evolution Petroleum had a negative net margin of 2.81% and a negative return on equity of 5.41%. Equities research analysts anticipate that Evolution Petroleum will post 0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EPM shares. Zacks Research upgraded Evolution Petroleum from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Freedom Broker upgraded shares of Evolution Petroleum from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Tuesday, September 22nd. Northland Securities set a $4.25 price objective on shares of Evolution Petroleum in a research report on Thursday, September 17th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Evolution Petroleum in a research note on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.76.

About Evolution Petroleum

Evolution Petroleum Corporation is an independent oil and natural gas company focused on acquiring, developing and optimizing mature, long-lived producing properties in the United States. The company emphasizes assets that can generate production and cash flow through enhanced oil recovery, operational improvements and reservoir management. Evolution Petroleum’s portfolio has historically included the Delhi Field in northeastern Louisiana, where carbon dioxide injection is used for tertiary oil recovery.