Evolution Petroleum (NYSE:EPM) Posts Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• Evolution Petroleum reported quarterly earnings of $0.10 per share, exceeding analysts' expectations by $0.09.
• The company announced a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 8.7%.
• As of the latest data, institutional investors hold 60.07% of Evolution Petroleum's stock and have recently increased their positions significantly.

Evolution Petroleum (NYSE:EPM - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.09, RTT News reports. Evolution Petroleum had a net margin of 2.04% and a return on equity of 2.42%. During the same period in the prior year, the business posted $0.03 earnings per share.

Evolution Petroleum Trading Down 3.1%

EPM stock traded down $0.17 during mid-day trading on Friday, reaching $5.30. 401,517 shares of the stock traded hands, compared to its average volume of 181,976. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. Evolution Petroleum has a 52-week low of $4.05 and a 52-week high of $6.14. The company has a market cap of $181.83 million, a P/E ratio of 106.02 and a beta of 0.61. The stock's fifty day moving average is $5.02 and its 200-day moving average is $4.78.

Evolution Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 9.1%. Evolution Petroleum's dividend payout ratio is currently 1,600.00%.

Hedge Funds Weigh In On Evolution Petroleum

Hedge funds have recently added to or reduced their stakes in the company. Focus Partners Wealth bought a new position in Evolution Petroleum during the first quarter valued at approximately $70,000. Sei Investments Co. acquired a new position in Evolution Petroleum during the second quarter valued at approximately $77,000. AQR Capital Management LLC acquired a new stake in shares of Evolution Petroleum in the first quarter worth $91,000. Jane Street Group LLC acquired a new stake in shares of Evolution Petroleum in the first quarter worth $102,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Evolution Petroleum in the second quarter worth $127,000. Institutional investors and hedge funds own 60.07% of the company's stock.

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.