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

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) declared 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) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date is Monday, September 22nd.

Evolution Petroleum has a dividend 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. Research 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 Down 0.7%

Shares of EPM stock traded down $0.04 during midday trading on Wednesday, reaching $5.46. 441,124 shares of the stock were exchanged, compared to its average volume of 179,690. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The firm has a market cap of $187.32 million, a PE ratio of 109.22 and a beta of 0.61. The company's 50 day moving average is $4.98 and its two-hundred day moving average is $4.77. Evolution Petroleum has a 1 year low of $4.05 and a 1 year high of $6.14.

Evolution Petroleum (NYSE:EPM - Get Free Report) last posted its quarterly earnings results on Tuesday, September 16th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.09. Evolution Petroleum had a return on equity of 2.42% and a net margin of 2.04%.During the same period in the prior year, the company posted $0.03 EPS. On average, equities research analysts predict that Evolution Petroleum will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Evolution Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of EPM. Chancellor Financial Group WB LP bought a new stake in Evolution Petroleum during the fourth quarter valued at about $58,000. Focus Partners Wealth purchased a new position in shares of Evolution Petroleum during the first quarter valued at about $70,000. Sei Investments Co. purchased a new position in shares of Evolution Petroleum during the second quarter valued at about $77,000. AQR Capital Management LLC purchased a new position in shares of Evolution Petroleum during the first quarter valued at about $91,000. Finally, Millennium Management LLC purchased a new position in shares of Evolution Petroleum during the fourth quarter valued at about $97,000. 60.07% of the stock is owned by institutional investors.

Evolution Petroleum Company Profile

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.