Evolution Petroleum Corporation (NYSE:EPM) Declares $0.12 Quarterly Dividend

Evolution Petroleum Corporation (NYSE:EPM) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be given 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 8.38%. The ex-dividend date is Friday, December 13th.

Evolution Petroleum has increased its dividend payment by an average of 40.0% per year 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

EPM traded up $0.22 during trading on Wednesday, hitting $5.73. The company had a trading volume of 668,196 shares, compared to its average volume of 292,234. The company has a market cap of $192.59 million, a P/E ratio of 50.09 and a beta of 0.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.49. Evolution Petroleum has a 1-year low of $4.59 and a 1-year high of $6.28. The stock has a 50-day moving average of $5.42.

Evolution Petroleum (NYSE:EPM) last announced its quarterly earnings data 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 the consensus estimate of $24.44 million. Evolution Petroleum had a net margin of 5.36% and a return on equity of 4.59%. Research analysts forecast that Evolution Petroleum will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

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

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.