Evolution Petroleum Corporation to Issue Quarterly Dividend of $0.12 (NYSE:EPM)

Evolution Petroleum Corporation (NYSE:EPM) announced a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.12 per share on Tuesday, December 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date of this dividend is Friday, December 13th.

Evolution Petroleum has increased its dividend by an average of 40.0% annually over the last three years. Evolution Petroleum has a payout ratio of 154.8% 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 Price Performance

Shares of NYSE:EPM traded up $0.20 during midday trading on Wednesday, hitting $5.71. The company had a trading volume of 668,206 shares, compared to its average volume of 292,262. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average is $5.42. Evolution Petroleum has a twelve month low of $4.59 and a twelve month high of $6.28. The stock has a market capitalization of $191.91 million, a PE ratio of 40.93 and a beta of 0.82.

Evolution Petroleum (NYSE:EPM) last released its earnings results on Tuesday, September 10th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $21.23 million during the quarter, compared to analyst estimates of $24.44 million. Evolution Petroleum had a net margin of 5.36% and a return on equity of 4.59%. As a group, sell-side analysts forecast that Evolution Petroleum will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on EPM shares. Northland Capmk upgraded Evolution Petroleum to a “strong-buy” rating in a research report on Thursday, October 17th. StockNews.com upgraded Evolution Petroleum to a “sell” rating in a research report on Sunday, September 15th.

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 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.