Evolution Petroleum (EPM) Declares $0.12 Dividend

Evolution Petroleum said on February 6, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Shareholders of record as of March 14, 2023 will receive the payment on March 31, 2023. Previously, the company paid $0.12 per share.

At the current share price of $6.22 / share, the stock's dividend yield is 7.72%. Looking back five years and taking a sample every week, the average dividend yield has been 5.58%, the lowest has been 2.76%, and the highest has been 16.60%. The standard deviation of yields is 2.28 (n=236).

The current dividend yield is 0.93 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 68.09% Upside

As of February 4, 2023, the average one-year price target for Evolution Petroleum is $10.46. The forecasts range from a low of $9.60 to a high of $11.55. The average price target represents an increase of 68.09% from its latest reported closing price of $6.22.

The projected annual revenue for Evolution Petroleum is $138MM, a decrease of 1.94%. The projected annual EPS is $0.93, a decrease of 24.62%.

What is the Fund Sentiment?

There are 175 funds or institutions reporting positions in Evolution Petroleum. This is an increase of 12 owner(s) or 7.36% in the last quarter. Average portfolio weight of all funds dedicated to EPM is 0.20%, an increase of 19.73%. Total shares owned by institutions decreased in the last three months by 3.77% to 24,238K shares. The put/call ratio of EPM is 0.53, indicating a bullish outlook.

What are large shareholders doing?

Wasatch Advisors holds 2,051K shares representing 6.16% ownership of the company. In it's prior filing, the firm reported owning 2,348K shares, representing a decrease of 14.52%. The firm increased its portfolio allocation in EPM by 22.34% over the last quarter.

Renaissance Technologies holds 1,707K shares representing 5.13% ownership of the company. In it's prior filing, the firm reported owning 2,059K shares, representing a decrease of 20.61%. The firm increased its portfolio allocation in EPM by 26.30% over the last quarter.

WealthTrust Axiom holds 1,667K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 1,666K shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in EPM by 0.70% over the last quarter.

River Road Asset Management holds 1,183K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 1,226K shares, representing a decrease of 3.61%. The firm decreased its portfolio allocation in EPM by 3.69% over the last quarter.

WAMVX - Wasatch Micro Cap Value Fund Investor Class shares holds 994K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,192K shares, representing a decrease of 19.87%. The firm increased its portfolio allocation in EPM by 12.60% over the last quarter.

Evolution Petroleum Background Information
(This description is provided by the company.)

Evolution Petroleum Corporation is an oil and gas company focused on delivering a sustainable dividend yield to its shareholders through the ownership, management, and development of producing oil and gas properties onshore in the United States. The Company's long-term goal is to build a diversified portfolio of oil and gas assets primarily through acquisition, while seeking opportunities to maintain and increase production through selective development, production enhancement and other exploitation efforts on its properties. Its largest assets are its interest in a CO2 enhanced oil recovery project in Louisiana's Delhi field and its interest in a secondary recovery project in Wyoming's Hamilton Dome field.

This story originally appeared on Fintel.