Roth Capital Analysts Boost Earnings Estimates for Evolution Petroleum Co. (NYSEAMERICAN:EPM)

Evolution Petroleum Co. (NYSEAMERICAN:EPM) – Analysts at Roth Capital upped their Q3 2024 earnings estimates for Evolution Petroleum in a report released on Monday, April 15th. Roth Capital analyst J. White now anticipates that the energy company will post earnings of $0.04 per share for the quarter, up from their previous forecast 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 announced its quarterly earnings data 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 business had revenue of $21.02 million during the quarter, compared to analysts’ expectations of $23.67 million. Evolution Petroleum had a return on equity of 18.44% and a net margin of 17.25%.

A number of other brokerages have also recently weighed in on EPM. TheStreet cut shares of Evolution Petroleum from a “b” rating to a “c+” rating in a report on Wednesday, February 7th. Roth Mkm restated a “buy” rating and issued a $8.25 price objective on shares of Evolution Petroleum in a report on Thursday, April 4th.

Evolution Petroleum Stock Performance

Shares of EPM opened at $5.59 on Wednesday. The stock has a market capitalization of $187.04 million, a price-to-earnings ratio of 11.65 and a beta of 0.89. Evolution Petroleum has a fifty-two week low of $5.00 and a fifty-two week high of $10.11.

Evolution Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 8.59%. Evolution Petroleum’s dividend payout ratio is presently 100.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPM. BlackRock Inc. lifted its position in Evolution Petroleum by 178.3% during the second quarter. BlackRock Inc. now owns 2,791,264 shares of the energy company’s stock valued at $22,526,000 after purchasing an additional 1,788,454 shares during the period. State Street Corp lifted its position in Evolution Petroleum by 242.2% during the second quarter. State Street Corp now owns 481,954 shares of the energy company’s stock valued at $3,889,000 after purchasing an additional 341,119 shares during the period. Geode Capital Management LLC lifted its position in Evolution Petroleum by 107.2% during the second quarter. Geode Capital Management LLC now owns 627,671 shares of the energy company’s stock valued at $5,065,000 after purchasing an additional 324,738 shares during the period. Invesco Ltd. bought a new position in Evolution Petroleum during the first quarter valued at approximately $1,843,000. Finally, Wasatch Advisors Inc. raised its position in Evolution Petroleum by 10.2% in the first quarter. Wasatch Advisors Inc. now owns 2,342,250 shares of the energy company’s stock worth $15,904,000 after acquiring an additional 217,029 shares during the period. Institutional investors own 60.07% of the company’s stock.

Evolution Petroleum Company Profile

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.