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

Key Points

• Evolution Petroleum Corporation announced a quarterly dividend of $0.12 per share, with a dividend yield of 9.1%, indicating strong intentions to return value to shareholders.
• Despite the dividend announcement, the company has an astronomical payout ratio of 4,800.0%, meaning it relies on its balance sheet rather than earnings to fund its dividend payments.
• Analysts have given Evolution Petroleum a consensus rating of "Moderate Buy" with an average price target of $6.10, signaling cautious optimism about the stock's future performance.

Evolution Petroleum Corporation (NYSE:EPM - Get Free Report) announced a quarterly dividend on Friday, September 12th, RTT News reports. Investors of record on Monday, September 22nd will be paid a dividend of 0.12 per share on Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 9.1%.

Evolution Petroleum has a payout ratio of 4,800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Evolution Petroleum to earn $0.16 per share next year, which means the company may not be able to cover its $0.48 annual dividend with an expected future payout ratio of 300.0%.

Evolution Petroleum Stock Up 0.2%

Shares of NYSE:EPM opened at $5.25 on Friday. The business has a 50-day moving average price of $4.95 and a 200 day moving average price of $4.77. Evolution Petroleum has a 12-month low of $4.05 and a 12-month high of $6.14. The company has a market capitalization of $180.12 million, a price-to-earnings ratio of 105.02 and a beta of 0.61. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EPM shares. Northland Capmk upgraded Evolution Petroleum to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen raised Evolution Petroleum from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Evolution Petroleum currently has a consensus rating of "Moderate Buy" and an average price target of $6.10.

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.

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