Q3 2024 Earnings Forecast for Evolution Petroleum Co. Issued By Roth Capital (NYSEAMERICAN:EPM)

Evolution Petroleum Co. (NYSEAMERICAN:EPM - Free Report) - Equities researchers at Roth Capital decreased their Q3 2024 earnings per share (EPS) estimates for Evolution Petroleum in a research note issued to investors on Thursday, April 4th. Roth Capital analyst J. White now forecasts that the energy company will earn $0.03 per share for the quarter, down from their previous forecast of $0.06. The consensus estimate for Evolution Petroleum's current full-year earnings is $0.20 per share. Roth Capital also issued estimates for Evolution Petroleum's Q4 2024 earnings at $0.03 EPS and FY2024 earnings at $0.13 EPS.

Evolution Petroleum (NYSEAMERICAN:EPM - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The energy company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). Evolution Petroleum had a net margin of 17.25% and a return on equity of 18.44%. The company had revenue of $21.02 million during the quarter, compared to analyst estimates of $23.67 million.

Several other equities research analysts also recently weighed in on EPM. Roth Mkm reiterated a "buy" rating and set a $8.25 target price on shares of Evolution Petroleum in a research note on Thursday. TheStreet cut shares of Evolution Petroleum from a "b" rating to a "c+" rating in a report on Wednesday, February 7th.

Evolution Petroleum Stock Performance

Shares of EPM traded up $0.14 during mid-day trading on Friday, hitting $6.10. 324,533 shares of the company's stock were exchanged, compared to its average volume of 343,626. Evolution Petroleum has a fifty-two week low of $5.00 and a fifty-two week high of $10.11. The company has a market capitalization of $203.94 million, a price-to-earnings ratio of 12.39 and a beta of 0.89.

Institutional Investors Weigh In On Evolution Petroleum

Several hedge funds have recently modified their holdings of EPM. Barclays PLC increased its position in Evolution Petroleum by 529.2% in the 4th quarter. Barclays PLC now owns 44,114 shares of the energy company's stock worth $256,000 after purchasing an additional 37,103 shares during the last quarter. Ranger Investment Management L.P. lifted its position in shares of Evolution Petroleum by 14.3% in the 4th quarter. Ranger Investment Management L.P. now owns 974,270 shares of the energy company's stock worth $5,661,000 after acquiring an additional 121,955 shares during the period. State of Tennessee Treasury Department lifted its position in shares of Evolution Petroleum by 37.4% in the 4th quarter. State of Tennessee Treasury Department now owns 44,856 shares of the energy company's stock worth $261,000 after acquiring an additional 12,216 shares during the period. Penn Mutual Asset Management LLC lifted its position in shares of Evolution Petroleum by 17.5% in the 4th quarter. Penn Mutual Asset Management LLC now owns 700,053 shares of the energy company's stock worth $4,067,000 after acquiring an additional 104,299 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Evolution Petroleum by 4.5% in the 4th quarter. Northern Trust Corp now owns 328,496 shares of the energy company's stock worth $1,909,000 after buying an additional 14,116 shares in the last quarter. 60.07% of the stock is owned by hedge funds and other institutional investors.

Evolution Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 7.88%. Evolution Petroleum's dividend payout ratio (DPR) is 100.00%.

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.