Evolution Petroleum Corp (EPM) Releases Earnings Results, Misses Estimates By $0.02 EPS
Evolution Petroleum Corp (NYSE:EPM) released its earnings results on Wednesday. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02, Briefing.com reports. The company had revenue of $8.84 million during the quarter, compared to analyst estimates of $9.52 million. Evolution Petroleum Corp had a net margin of 25.40% and a return on equity of 14.11%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS.
Evolution Petroleum Corp (NYSE EPM) opened at 6.90 on Friday. Evolution Petroleum Corp has a 12-month low of $5.79 and a 12-month high of $10.20. The stock has a 50 day moving average price of $7.68 and a 200-day moving average price of $7.89. The firm has a market cap of $225.41 million and a price-to-earnings ratio of 8.77.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from Evolution Petroleum Corp’s previous quarterly dividend of $0.07.
A number of research firms have recently issued reports on EPM. Northland Securities set a $8.00 target price on Evolution Petroleum Corp and gave the company a “hold” rating in a report on Monday, August 28th. Zacks Investment Research raised Evolution Petroleum Corp from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Roth Capital set a $11.00 target price on Evolution Petroleum Corp and gave the company a “buy” rating in a report on Thursday, August 10th. BidaskClub lowered Evolution Petroleum Corp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Scotiabank set a $10.00 target price on Evolution Petroleum Corp and gave the company a “buy” rating in a report on Saturday, July 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.60.
About Evolution Petroleum Corp
Evolution Petroleum Corporation is an independent oil and gas company. The Company is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. Its assets include interests in a carbon dioxide (CO2) enhanced oil recovery project (EOR) in Louisiana’s Delhi field.
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