Evolution Petroleum (EPM)
Non-operated owner of U.S. oil and natural-gas property interests.
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Generates production-linked revenue from minority non-operated working, royalty, and mineral interests in U.S. onshore oil and natural-gas properties. Third-party operators run the fields, while working interests pair revenue with operating and development costs.
Owns minority working, revenue, mineral, and royalty interests in U.S. onshore oil and natural-gas properties. Its portfolio spans the SCOOP/STACK, Chaveroo, Jonah, Williston, Barnett, Hamilton Dome, Delhi, TexMex, and other interests across Oklahoma, New Mexico, Texas, Wyoming, North Dakota, and Louisiana.
Revenue comes from crude oil, natural gas, and natural-gas liquids. Working interests provide a proportionate share of production while carrying a corresponding share of operating and development costs; royalty and mineral interests generate production-linked revenue without that working-interest cost burden.
Third-party operators handle field activity, marketing, safety, and environmental compliance. Operations therefore depend on their development decisions, cash remittances, gathering and processing capacity, commodity prices, reserve estimates, borrowing capacity, and changing federal, state, and local regulations.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 28, 2026 | Northland Capital Markets | Upgrade | Market Perform | Outperform | ||
| Aug 25, 2026 | Industrial Alliance Securities | Target | $6 | |||
| Jul 23, 2026 | Northland Securities | Target | $4.50 | $4 | ||
| May 13, 2026 | Northland Securities | Target | $4.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $2.6M · Total debt $369.0K · Total assets $169.8M · Shareholders' equity $58.4M
- Revenue
- $20.2M
- Operating income
- −$558.0K
- Net income
- −$8.9M
Raised for 5 straight years — most recently to $0.12 from $0.10 in Sep 2022. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jun 30 | $0.12 | |
| Mar 16, 2026 | Mar 16 | Mar 31 | $0.12 | |
| Dec 15, 2025 | Dec 15 | Dec 31 | $0.12 | |
| Sep 22, 2025 | Sep 22 | Sep 30 | $0.12 | |
| Jun 13, 2025 | Jun 13 | Jun 30 | $0.12 | |
| Mar 14, 2025 | Mar 14 | Mar 31 | $0.12 | |
| Dec 13, 2024 | Dec 13 | Dec 31 | $0.12 | |
| Sep 20, 2024 | Sep 20 | Sep 30 | $0.12 |
| Institutions120 holders · as of Jun 30, 2026 | 50.54% | 18.13M shares | |
| Otherremainder | 49.46% | 17.74M shares |
35.87M company shares as of Sep 3, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
ArrowMark Colorado Holdings, LLCInstitution | 6.89% | 2.47M | 13D/Gfiled Feb 16, 2021 ↗ |
BlackRock, Inc.Institution | 6.74% | 2.42M | 13Fas of Jun 30, 2026 |
Wealthtrust Axiom LLCInstitution | 6.17% | 2.21M | 13Fas of Jun 30, 2026 |
Wasatch Advisors, Inc.Institution | 5.92% | 2.13M | 13D/Gfiled Feb 11, 2022 ↗ |
Dimensional Fund Advisors LPInstitution | 4.15% | 1.49M | 13Fas of Jun 30, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
Nothing filed in the last 12 months.
- Northern Oil and Gas
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- Granite Ridge Resources
Direct rival for diversified U.S. non-operated upstream investments.
- Viper Energy
Large-scale rival for U.S. oil-and-gas mineral and royalty packages.
- Black Stone Minerals
Broad U.S. mineral-rights owner competing for royalty packages.
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Evolution Petroleum | $3.69 | +0.14% | $131.5M | — | 73.7 | 1.6 | −10.6% |
| Northern Oil and Gas | $26.78 | +0.62% | $2.89B | — | 6.8 | 1.3 | +28.9% |
| Granite Ridge Resources | $5.24 | +1.65% | $680.6M | — | 8.9 | 1.4 | +36.7% |
| Viper Energy | $45.12 | −0.04% | $16.24B | 347.1 | 19.0 | 8.3 | +135.9% |
| Black Stone Minerals | $14.94 | 0.00% | $3.17B | 12.4 | 14.3 | 6.6 | +39.6% |
| Median | 179.7 | 11.6 | 4.0 | +38.1% |