Evolution Petroleum Corporation (EPM) to Issue Quarterly Dividend of $0.12 on December 31st

Evolution Petroleum Corporation (NYSE:EPM) declared a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 8.41%. The ex-dividend date is Friday, December 13th.

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 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 Stock Up 3.6 %

NYSE EPM traded up $0.20 on Wednesday, reaching $5.71. The company had a trading volume of 668,206 shares, compared to its average volume of 292,262. The company has a market capitalization of $191.91 million, a PE ratio of 40.93 and a beta of 0.82. The company has a 50 day moving average of $5.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.37 and a current ratio of 1.37. Evolution Petroleum has a 52 week low of $4.59 and a 52 week high of $6.28.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on EPM. StockNews.com raised shares of Evolution Petroleum to a “sell” rating in a report on Sunday, September 15th. Northland Capmk raised shares of Evolution Petroleum to a “strong-buy” rating in a 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.