Roth Capital Analysts Boost Earnings Estimates for Evolution Petroleum Co. (NYSEAMERICAN:EPM)

Evolution Petroleum Co. (NYSEAMERICAN:EPM) – Analysts at Roth Capital boosted their Q3 2024 earnings per share estimates for shares of Evolution Petroleum in a research report issued to clients and investors on Monday, April 15th. Roth Capital analyst J. White now forecasts that the energy company will post earnings per share of $0.04 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.

Several other equities analysts have also recently weighed in on EPM. TheStreet cut Evolution Petroleum from a “b” rating to a “c+” rating in a report on Wednesday, February 7th. Roth Mkm reiterated a “buy” rating and set a $8.25 price target on shares of Evolution Petroleum in a report on Thursday, April 4th.

Evolution Petroleum Price Performance

Shares of NYSEAMERICAN EPM opened at $5.59 on Wednesday. The stock has a market capitalization of $187.04 million, a PE ratio of 11.65 and a beta of 0.89. Evolution Petroleum has a fifty-two week low of $5.00 and a fifty-two week high of $10.11.

Evolution Petroleum (NYSEAMERICAN:EPM) last released its quarterly earnings results 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 firm had revenue of $21.02 million during the quarter, compared to analyst estimates of $23.67 million.

Evolution Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.59%. Evolution Petroleum’s payout ratio is presently 100.00%.

Institutional Trading of Evolution Petroleum

A number of hedge funds and other institutional investors have recently modified their holdings of EPM. BlackRock Inc. grew its stake in shares of Evolution Petroleum by 178.3% in the second quarter. BlackRock Inc. now owns 2,791,264 shares of the energy company’s stock worth $22,526,000 after purchasing an additional 1,788,454 shares during the last quarter. State Street Corp grew its stake in shares of Evolution Petroleum by 242.2% in the second quarter. State Street Corp now owns 481,954 shares of the energy company’s stock worth $3,889,000 after purchasing an additional 341,119 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Evolution Petroleum by 107.2% in the second quarter. Geode Capital Management LLC now owns 627,671 shares of the energy company’s stock worth $5,065,000 after purchasing an additional 324,738 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Evolution Petroleum in the first quarter worth $1,843,000. Finally, Wasatch Advisors Inc. grew its stake in shares of Evolution Petroleum by 10.2% in the first quarter. Wasatch Advisors Inc. now owns 2,342,250 shares of the energy company’s stock worth $15,904,000 after purchasing an additional 217,029 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

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.