Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) Declares Quarterly Dividend of $0.12

Evolution Petroleum Corporation, Inc. (NYSEAMERICAN:EPM) declared a quarterly dividend on Tuesday, February 10th. Investors of record on Monday, March 16th will be paid a dividend of 0.12 per share by the energy company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 10.2%. The ex-dividend date is Monday, March 16th.

Evolution Petroleum has a dividend payout ratio of 4,800.0% indicating that 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 Performance

Shares of EPM opened at $4.69 on Friday. The firm has a fifty day simple moving average of $4.07 and a 200 day simple moving average of $4.32. Evolution Petroleum has a 12 month low of $3.19 and a 12 month high of $5.70. The stock has a market capitalization of $164.15 million, a price-to-earnings ratio of 58.63 and a beta of 0.28. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EPM. Zacks Research raised shares of Evolution Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Roth Mkm started coverage on Evolution Petroleum in a research report on Thursday, December 4th. They issued a “buy” rating and a $5.00 target price for the company. Freedom Capital raised Evolution Petroleum to a “strong-buy” rating in a research report on Tuesday, December 23rd. Finally, Loop Capital set a $5.30 price target on shares of Evolution Petroleum in a research report on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.33.

Evolution Petroleum Company Profile

Evolution Petroleum Corporation (NYSE American: EPM) is an independent oil and natural gas company focused on enhanced oil recovery (EOR) through the use of carbon dioxide. Headquartered in Houston, Texas, the company specializes in acquiring and developing mature hydrocarbon reservoirs that benefit from CO₂ injection to increase production efficiency. Evolution Petroleum’s business model combines property acquisition, reservoir engineering, and CO₂ management to optimize recovery of oil and associated gas.

The company’s primary asset is the Jackson Dome CO₂ field in southwestern Mississippi, where natural carbon dioxide is produced, separated and reinjected into adjacent oil-bearing formations.