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

Evolution Petroleum Co. (NYSEAMERICAN:EPM) – Investment analysts at Roth Capital increased their Q3 2024 earnings estimates for shares of Evolution Petroleum in a research report issued on Monday, April 15th. Roth Capital analyst J. White now anticipates that the energy company will post earnings of $0.04 per share for the quarter, up from their prior forecast of $0.03. The consensus estimate for Evolution Petroleum’s current full-year earnings is $0.19 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) last issued its earnings results on Tuesday, February 6th. The energy company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). The company had revenue of $21.02 million during the quarter, compared to analyst estimates of $23.67 million. Evolution Petroleum had a net margin of 17.25% and a return on equity of 18.44%.

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

Evolution Petroleum Trading Up 0.4 %

Shares of Evolution Petroleum stock opened at $5.63 on Wednesday. The stock has a market capitalization of $188.38 million, a PE ratio of 11.73 and a beta of 0.89. Evolution Petroleum has a 1 year low of $5.00 and a 1 year high of $10.11.

Evolution Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 annualized dividend and a yield of 8.53%. Evolution Petroleum’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On Evolution Petroleum

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Evolution Petroleum by 178.3% during the second quarter. BlackRock Inc. now owns 2,791,264 shares of the energy company’s stock worth $22,526,000 after acquiring an additional 1,788,454 shares during the period. Wasatch Advisors Inc. grew its position in Evolution Petroleum by 10.2% in the 1st 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. Renaissance Technologies LLC grew its position in Evolution Petroleum by 6.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,764,197 shares of the energy company’s stock worth $11,132,000 after purchasing an additional 103,900 shares during the last quarter. WealthTrust Axiom LLC grew its position in Evolution Petroleum by 1.5% in the 4th quarter. WealthTrust Axiom LLC now owns 1,666,452 shares of the energy company’s stock worth $9,682,000 after purchasing an additional 24,853 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Evolution Petroleum by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,651,812 shares of the energy company’s stock worth $11,298,000 after purchasing an additional 104,697 shares during the last quarter. Institutional investors and hedge funds 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.