Northland Maintains Market Perform on Evolution Petroleum (EPM), Cuts Price Target to $4

Core Insights - Evolution Petroleum Corporation (EPM) is recognized among the 15 stocks with the highest dividend yields, indicating strong investor interest in its dividend performance [1] Financial Performance - In fiscal Q1 2026, EPM reported revenues of $21.2 million, reflecting a nearly 3% decline year-over-year. However, natural gas revenue increased by 38% to $5.9 million compared to the same quarter last year [3] - The company returned $4.2 million to shareholders through dividends during the quarter, marking 49 consecutive quarters of regular dividend payments [4] Market Position and Strategy - Northland maintained a Market Perform rating on EPM but reduced its price target from $4.50 to $4 due to weaker benchmark commodity prices, despite the fiscal Q1 results being slightly better than expected [2] - EPM expanded its operations by acquiring assets in the SCOOP/STACK region of Oklahoma, which is its largest acquisition of mineral and royalty interests to date [3] - The company focuses on operational efficiency, careful capital allocation, and maintaining financial strength to generate sustainable free cash flow for dividends and opportunistic acquisitions [4] Company Overview - EPM operates as an independent energy company, investing in and managing onshore oil and natural gas properties across the United States [5]