Evolution Petroleum Corp (NYSEAMERICAN:EPM) announced a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Investors of record on Friday, December 14th will be given a dividend of 0.10 per share by the energy company on Monday, December 31st. This represents a $0.40 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, December 13th.
Evolution Petroleum has decreased its dividend by an average of 10.2% annually over the last three years and has raised its dividend every year for the last 2 years. Evolution Petroleum has a dividend payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings.
Shares of NYSEAMERICAN:EPM opened at $10.00 on Friday. Evolution Petroleum has a one year low of $6.35 and a one year high of $12.83.
Evolution Petroleum (NYSEAMERICAN:EPM) last issued its earnings results on Friday, September 7th. The energy company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $11.43 million for the quarter, compared to analysts’ expectations of $11.42 million.
In other news, major shareholder Advisors L.L.C. Jvl sold 68,914 shares of Evolution Petroleum stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $10.07, for a total transaction of $693,963.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Joe sold 4,306 shares of Evolution Petroleum stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $12.58, for a total transaction of $54,169.48. Following the sale, the chief financial officer now owns 288,448 shares of the company’s stock, valued at $3,628,675.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,336 shares of company stock valued at $3,038,743.
An institutional investor recently raised its position in Evolution Petroleum stock. Bank of New York Mellon Corp increased its holdings in shares of Evolution Petroleum Corp (NYSEAMERICAN:EPM) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393,255 shares of the energy company’s stock after purchasing an additional 11,934 shares during the period. Bank of New York Mellon Corp owned approximately 1.19% of Evolution Petroleum worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several brokerages recently issued reports on EPM. Johnson Rice lowered shares of Evolution Petroleum from an “accumulate” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Wednesday, August 15th. Zacks Investment Research raised shares of Evolution Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Roth Capital reissued a “neutral” rating and set a $8.50 price objective on shares of Evolution Petroleum in a report on Monday, July 23rd. Finally, UBS Group raised shares of Evolution Petroleum from a “neutral” rating to a “buy” rating in a report on Monday, September 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.30.
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Evolution Petroleum Company Profile
Evolution Petroleum Corporation, an oil and gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana.
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