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 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Northland Securities | Target | Target: $4 | Target: $4.25 |
| Aug 28, 2026 | Northland Capital Markets | Upgrade | ||
| Aug 25, 2026 | Industrial Alliance Securities | Target | Target: — | Target: $6 |
| Jul 23, 2026 | Northland Securities | Target | Target: $4.50 | Target: $4 |
| May 13, 2026 | Northland Securities | Target | Target: — | Target: $4.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $6.1M · Total debt $351.0K · Total assets $168.7M · Shareholders' equity $60.4M
- Revenue
- $24.2M
- Operating income
- $3.5M
- Net income
- $4.6M
HistoryDividendAnnual yield
| Institutions | 50.54% | 18.13M shares | |
|---|---|---|---|
| 120 holders · as of Jun 30, 2026 | |||
| Insiders | 3.71% | 1.33M shares | |
| 4 holders · as of Sep 21, 2026 | |||
| Other | 45.75% | 16.41M shares | |
| remainder | |||
35.87M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 6.74% | 2.42M | as of Jun 30, 2026 |
Arrowpoint Asset Management, LLCInstitution | 6.21% | 2.23M | filed Feb 13, 2017 |
Wealthtrust Axiom LLCInstitution | 6.17% | 2.21M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.15% | 1.49M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.55% | 1.27M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Northern Oil and Gas
Largest direct rival for non-operated U.S. upstream asset acquisitions.
- 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.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Evolution Petroleum | $3.64 | −0.68% | $131.1M | — | 94.8 | 1.5 | +14.7% |
| Northern Oil and Gas | $23.17 | +1.56% | $2.48B | — | 5.9 | 1.1 | +5.4% |
| Granite Ridge Resources | $4.50 | −1.21% | $600.1M | — | 6.6 | 1.2 | +36.7% |
| Viper Energy | $41.14 | +0.91% | $14.68B | 313.6 | 16.7 | 7.5 | +128.0% |
| Black Stone Minerals | $14.71 | −0.37% | $3.14B | 12.2 | 14.1 | 6.5 | +39.6% |
| Median | 162.9 | 10.3 | 3.8 | +38.1% |