Evolution Petroleum Co. (NYSEAMERICAN:EPM – Get Free Report) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.12 per share by the energy company on Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date of this dividend is Friday, June 14th.
Evolution Petroleum has raised its dividend by an average of 40.0% annually over the last three years. Evolution Petroleum has a dividend payout ratio of 88.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Evolution Petroleum to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 88.9%.
Evolution Petroleum Price Performance
NYSEAMERICAN:EPM opened at $5.66 on Thursday. The company has a market capitalization of $189.22 million, a PE ratio of 11.78 and a beta of 0.91. Evolution Petroleum has a 1 year low of $5.00 and a 1 year high of $10.11.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. TheStreet cut Evolution Petroleum from a “b” rating to a “c+” rating in a report on Wednesday, February 7th. Roth Mkm restated a “buy” rating and set a $8.25 target price on shares of Evolution Petroleum in a research report on Thursday, April 4th.
View Our Latest Stock Report on Evolution Petroleum
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 interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of approximately 13,636 acres located in Northeast Louisiana.
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