Evolution Petroleum Co. (NYSEAMERICAN:EPM) Announces $0.12 Quarterly Dividend

Evolution Petroleum Co. (NYSEAMERICAN:EPM) declared a quarterly dividend on Monday, September 9th, Wall Street Journal reports. Investors of record on Friday, September 20th will be paid a dividend of 0.12 per share by the energy company on Monday, September 30th. This represents a $0.48 dividend on an annualized basis and a yield of 8.30%. The ex-dividend date of this dividend is Friday, September 20th.

Evolution Petroleum has increased its dividend payment by an average of 40.0% annually over the last three years. Evolution Petroleum has a dividend payout ratio of 111.6% 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 Stock Performance

Shares of EPM stock opened at $5.78 on Wednesday. The company has a market cap of $192.82 million, a price-to-earnings ratio of 71.63 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 1.49. Evolution Petroleum has a 12-month low of $4.59 and a 12-month high of $7.14.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results on Tuesday, September 10th. The energy company reported $0.03 earnings per share (EPS) 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 4.75% and a return on equity of 5.30%. As a group, equities analysts anticipate that Evolution Petroleum will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Evolution Petroleum to a “sell” rating in a research note on Wednesday, September 11th.

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.