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

Evolution Petroleum Corporation (NYSE:EPM) announced a quarterly dividend on Monday, September 9th, NASDAQ reports. Shareholders of record on Friday, September 20th will be given a dividend of 0.12 per share on Monday, September 30th. This represents a $0.48 annualized dividend and a yield of 8.30%. The ex-dividend date is Friday, September 20th.

Evolution Petroleum has increased its dividend payment by an average of 40.0% annually over the last three years. Evolution Petroleum has a payout ratio of 184.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Evolution Petroleum Stock Up 0.9 %

Shares of NYSE:EPM opened at $5.78 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.49 and a current ratio of 1.37. The company has a market cap of $192.59 million, a PE ratio of 71.57 and a beta of 0.81. Evolution Petroleum has a one year low of $4.59 and a one year high of $7.14.

Evolution Petroleum (NYSE:EPM) last released its quarterly earnings data on Tuesday, September 10th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $21.23 million for the quarter, compared to analysts’ expectations of $24.44 million. Evolution Petroleum had a return on equity of 5.39% and a net margin of 4.75%. As a group, equities analysts expect that Evolution Petroleum will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Evolution Petroleum to a “sell” rating in a report on Sunday.

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.