Evolution Petroleum Corp (NYSEAMERICAN:EPM) declared a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Investors of record on Friday, December 14th will be paid 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 4.87%. The ex-dividend date of this dividend is Thursday, December 13th.
Evolution Petroleum has decreased its dividend by an average of 10.2% per year over the last three years and has increased its dividend every year for the last 2 years. Evolution Petroleum has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings.
Shares of Evolution Petroleum stock opened at $8.22 on Friday. Evolution Petroleum has a 1 year low of $6.35 and a 1 year high of $12.83.
Evolution Petroleum (NYSEAMERICAN:EPM) last announced its quarterly earnings results on Friday, September 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $11.43 million during the quarter, compared to the consensus estimate of $11.42 million.
In other Evolution Petroleum news, CFO David Joe sold 4,306 shares of the company’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $12.58, for a total transaction of $54,169.48. Following the transaction, the chief financial officer now owns 288,448 shares in the company, valued at approximately $3,628,675.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Advisors L.L.C. Jvl sold 18,914 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $10.07, for a total transaction of $190,463.98. The disclosure for this sale can be found here. Insiders have sold a total of 286,336 shares of company stock worth $3,038,743 in the last 90 days.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Evolution Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. UBS Group upgraded shares of Evolution Petroleum from a “neutral” rating to a “buy” rating in a research note on Monday, September 17th. Finally, Johnson Rice cut shares of Evolution Petroleum from an “accumulate” rating to a “hold” rating and set a $10.00 price target on the stock. in a research note on Wednesday, August 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Evolution Petroleum currently has an average rating of “Hold” and a consensus target price of $9.30.
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About Evolution Petroleum
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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