Evolution Petroleum Corp (EPM) to Issue Dividend Increase – $0.10 Per Share

Evolution Petroleum Corp (NYSEAMERICAN:EPM) declared a quarterly dividend on Friday, February 9th, Wall Street Journal reports. Stockholders of record on Thursday, March 15th will be given a dividend of 0.10 per share by the energy company on Thursday, March 29th. This represents a $0.40 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Wednesday, March 14th. This is a boost from Evolution Petroleum’s previous quarterly dividend of $0.08.

Evolution Petroleum (NYSEAMERICAN EPM) traded up $0.10 during trading hours on Friday, hitting $8.05. The stock had a trading volume of 93,802 shares, compared to its average volume of 84,746. The firm has a market cap of $244.68, a P/E ratio of 31.80 and a beta of 0.78. Evolution Petroleum has a fifty-two week low of $6.35 and a fifty-two week high of $9.30.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $8.54 million during the quarter, compared to the consensus estimate of $8.19 million. Evolution Petroleum had a return on equity of 12.54% and a net margin of 25.07%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 EPS.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Evolution Petroleum from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Wednesday, December 20th. Roth Capital set a $11.00 price objective on Evolution Petroleum and gave the stock a “buy” rating in a research report on Friday, October 20th. Northland Securities set a $7.00 price objective on Evolution Petroleum and gave the stock a “hold” rating in a research report on Monday, December 11th. UBS Group upgraded Evolution Petroleum from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, Eurobank EFG upgraded Evolution Petroleum from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $9.15.

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Evolution Petroleum Company Profile

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.

Dividend History for Evolution Petroleum (NYSEAMERICAN:EPM)

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