Evolution Petroleum Co. Forecasted to Earn Q3 2024 Earnings of $0.04 Per Share (NYSEAMERICAN:EPM)

Evolution Petroleum Co. (NYSEAMERICAN:EPM - Free Report) - Research analysts at Roth Capital raised their Q3 2024 earnings estimates for shares of Evolution Petroleum in a research note issued to investors on Monday, April 15th. Roth Capital analyst J. White now forecasts that the energy company will earn $0.04 per share for the quarter, up from their previous estimate of $0.03. The consensus estimate for Evolution Petroleum's current full-year earnings is $0.17 per share. Roth Capital also issued estimates for Evolution Petroleum's Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.16 EPS and FY2025 earnings at $0.40 EPS.

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

EPM has been the topic of a number of other research reports. TheStreet lowered Evolution Petroleum from a "b" rating to a "c+" rating in a research report on Wednesday, February 7th. Roth Mkm reiterated a "buy" rating and set a $8.25 target price on shares of Evolution Petroleum in a research report on Thursday, April 4th.

Evolution Petroleum Price Performance

Shares of NYSEAMERICAN EPM traded down $0.22 during midday trading on Wednesday, reaching $5.59. 332,981 shares of the stock were exchanged, compared to its average volume of 332,563. The stock has a market capitalization of $187.04 million, a price-to-earnings ratio of 11.65 and a beta of 0.89. Evolution Petroleum has a twelve month low of $5.00 and a twelve month high of $10.11.

Evolution Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 8.59%. Evolution Petroleum's payout ratio is currently 100.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC increased its position in shares of Evolution Petroleum by 71.2% during the 1st quarter. Register Financial Advisors LLC now owns 276,405 shares of the energy company's stock worth $1,697,000 after purchasing an additional 114,987 shares during the last quarter. Barclays PLC grew 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 valued at $256,000 after acquiring an additional 37,103 shares in the last quarter. Ranger Investment Management L.P. grew its position in 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 valued at $5,661,000 after acquiring an additional 121,955 shares in the last quarter. State of Tennessee Treasury Department grew its position in 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 valued at $261,000 after acquiring an additional 12,216 shares in the last quarter. Finally, Penn Mutual Asset Management LLC grew its position in shares of Evolution Petroleum by 17.5% during the fourth quarter. Penn Mutual Asset Management LLC now owns 700,053 shares of the energy company's stock worth $4,067,000 after buying an additional 104,299 shares in the last quarter. Hedge funds and other institutional investors 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 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.