Evolution Petroleum Corporation (NYSE:EPM) to Issue $0.12 Quarterly Dividend

Evolution Petroleum Corporation (NYSE:EPM) announced a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.12 per share on Monday, March 31st. This represents a $0.48 annualized dividend and a yield of 9.18%. The ex-dividend date is Friday, March 14th.

Evolution Petroleum has raised its dividend payment by an average of 27.8% per year over the last three years.

Evolution Petroleum Stock Down 1.3 %

EPM stock traded down $0.07 during midday trading on Wednesday, reaching $5.23. The company had a trading volume of 297,714 shares, compared to its average volume of 158,782. The stock has a market cap of $175.71 million, a price-to-earnings ratio of 37.36 and a beta of 0.87. The stock’s 50 day moving average price is $5.37. Evolution Petroleum has a fifty-two week low of $4.59 and a fifty-two week high of $6.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.69.

Analyst Upgrades and Downgrades

EPM has been the topic of a number of recent research reports. Northland Capmk upgraded Evolution Petroleum to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com lowered shares of Evolution Petroleum from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Northland Securities decreased their target price on shares of Evolution Petroleum from $7.00 to $6.50 and set an “outperform” rating for the company in a research report on Thursday, February 6th.

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 a non-operated interests in the SCOOP and STACK plays located in Central Oklahoma; the Chaveroo Field situated in Chaves and Roosevelt Counties, New Mexico; the Jonah Field located in Sublette County, Wyoming; the Williston Basin situated in Williston, North Dakota; the Barnett Shale field located in North Texas; the Hamilton Dome situated in Hot Springs County, Wyoming; and the Delhi Field, an onshore CO2-EOR project located in northeast Louisiana in Franklin, Madison, and Richland Parishes, as well as small overriding royalty interests in four onshore central Texas wells.