Q3 2024 EPS Estimates for Evolution Petroleum Co. Increased by Analyst (NYSEAMERICAN:EPM)

Evolution Petroleum Co. (NYSEAMERICAN:EPM) – Research analysts at Roth Capital raised their Q3 2024 earnings per share estimates for Evolution Petroleum in a note issued to 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 prior 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.

Evolution Petroleum (NYSEAMERICAN:EPM) last posted its quarterly earnings results on Tuesday, February 6th. The energy company reported $0.03 earnings per share 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 the consensus estimate of $23.67 million. Evolution Petroleum had a net margin of 17.25% and a return on equity of 18.44%.

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

Evolution Petroleum Price Performance

EPM traded down $0.20 during trading on Wednesday, hitting $5.61. The stock had a trading volume of 332,937 shares, compared to its average volume of 332,563. The company has a market capitalization of $187.71 million, a PE ratio of 12.02 and a beta of 0.89. Evolution Petroleum has a one year low of $5.00 and a one year high of $10.11.

Institutional Investors Weigh In On Evolution Petroleum

Several large investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. boosted its holdings in Evolution Petroleum by 97.0% in the first quarter. Advisor Group Holdings Inc. now owns 3,656 shares of the energy company’s stock worth $25,000 after acquiring an additional 1,800 shares in the last quarter. Gladius Capital Management LP bought a new position in Evolution Petroleum in the fourth quarter worth approximately $27,000. BNP Paribas Arbitrage SA boosted its holdings in Evolution Petroleum by 253,450.0% in the first quarter. BNP Paribas Arbitrage SA now owns 5,071 shares of the energy company’s stock worth $34,000 after acquiring an additional 5,069 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Evolution Petroleum in the first quarter worth approximately $34,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Evolution Petroleum in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

Evolution Petroleum Dividend Announcement

The firm also recently announced 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 was Thursday, March 14th. This represents a $0.48 annualized dividend and a yield of 8.56%. Evolution Petroleum’s dividend payout ratio is currently 100.00%.

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.