Northland Capmk Weighs in on Evolution Petroleum Co.’s Q1 2024 Earnings (NYSEAMERICAN:EPM)

Posted by Defense World Staff on Sep 18th, 2023

Evolution Petroleum Co. (NYSEAMERICAN:EPM – Free Report) – Equities researchers at Northland Capmk cut their Q1 2024 EPS estimates for shares of Evolution Petroleum in a research note issued to investors on Thursday, September 14th. Northland Capmk analyst D. Schafer now forecasts that the energy company will post earnings of $0.10 per share for the quarter, down from their prior forecast of $0.21. The consensus estimate for Evolution Petroleum’s current full-year earnings is $0.56 per share. Northland Capmk also issued estimates for Evolution Petroleum’s Q2 2024 earnings at $0.24 EPS, Q3 2024 earnings at $0.23 EPS and FY2024 earnings at $0.84 EPS.

Separately, StockNews.com assumed coverage on shares of Evolution Petroleum in a research report on Wednesday, August 23rd. They set a “hold” rating for the company.

Get Our Latest Report on EPM

Evolution Petroleum Stock Performance

NYSEAMERICAN EPM opened at $7.13 on Monday. Evolution Petroleum has a 1 year low of $5.39 and a 1 year high of $10.11. The company has a market cap of $237.00 million, a price-to-earnings ratio of 6.86 and a beta of 0.98. The business has a fifty day moving average price of $7.38.

Institutional Trading of Evolution Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Evolution Petroleum by 178.3% in the 2nd quarter. BlackRock Inc. now owns 2,791,264 shares of the energy company’s stock worth $22,526,000 after buying an additional 1,788,454 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in Evolution Petroleum by 10.2% in the 1st quarter. Wasatch Advisors Inc. now owns 2,342,250 shares of the energy company’s stock worth $15,904,000 after purchasing an additional 217,029 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Evolution Petroleum by 6.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,764,197 shares of the energy company’s stock worth $11,132,000 after purchasing an additional 103,900 shares in the last quarter. WealthTrust Axiom LLC raised its holdings in shares of Evolution Petroleum by 0.5% during the 1st quarter. WealthTrust Axiom LLC now owns 1,674,393 shares of the energy company’s stock worth $10,565,000 after acquiring an additional 7,652 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Evolution Petroleum by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,297,859 shares of the energy company’s stock worth $8,813,000 after acquiring an additional 14,825 shares in the last quarter. Hedge funds and other institutional investors own 61.68% of the company’s stock.

Evolution Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 22nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date is Thursday, September 21st. Evolution Petroleum’s payout ratio is 46.15%.

Evolution Petroleum Company Profile

(Get Free Report)

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.