Evolution Petroleum Corporation (EPM) Stock

Evolution Petroleum Corporation (EPM) is a Energy stock trading at $3.52 (as of 2026-08-20), with a market capitalization of $126.63M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Evolution Petroleum Corporation is an oil and natural gas company that develops, produces, owns, and manages oil and gas properties in the United States. Its interests include a CO2 enhanced oil recovery project in Louisiana’s Delhi field and additional holdings in the Hamilton Dome field in Wyoming and the Barnett Shale field in North Texas.

Understand Evolution Petroleum Corporation: how it makes money

Evolution Petroleum develops and produces oil and gas in the United States, earning revenue primarily from sales of crude oil and natural gas (and some natural gas liquids) produced from its U.S. fields.

For Evolution Petroleum, profitability is structurally driven by commodity-price-linked revenue from its daily oil and natural gas production volumes, with results further shaped by the crude oil versus natural gas revenue mix from its U.S. operating fields.

Revenue by segment (latest quarter)
Oil, Gas, NGL	$0.0B
Crude Oil	$0.0B
Natural Gas	$0.0B
Natural Gas Liquids	$0.0B

Business quality (Weak): The profit snapshot shows positive gross margin (35.7%) but a negative operating margin (-2.8%) in the latest reported quarter (2026-03-31), while the dataset indicates very small revenues (revenue reported as 0.0B). Operating metrics for volumes are provided (average BOE and per-day crude and natural gas), but several per-unit cost and price labels are shown as 0.0 in the provided inputs, which limits what can be concluded about cost and realized pricing dynamics from this dataset alone.

Bull case

Multi-commodity production base: The company reports both crude oil and natural gas production and revenue mix, with crude oil representing 61% of revenue and natural gas representing 27% (natural gas liquids revenue is shown as 0.0B in the provided inputs).
Multiple producing assets in the U.S: Evolution Petroleum holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field, and interests in the Hamilton Dome field in Wyoming and the Barnett Shale field in North Texas.

Bear case

Operating losses in the latest quarter: For 2026-03-31, Evolution Petroleum reported an operating margin of -2.8% even though gross margin was 35.7%.
Very small reported revenue scale in the quarter: Total revenue is reported as 0.0B for 2026-03-31, suggesting results in this period are low in absolute terms (consistent with very small segment revenues shown in the dataset).

Valuation — source: SEC EDGAR (first-party)
Price	$3.52
Market Cap	$126.63M
EV / EBITDA	5.1
Price / Book	2.17
Price / Sales	1.52
Dividend Yield	13.2%
DCF Value (model)	$0.85
DCF Upside vs Price	-75.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$85.84M
Net Margin	1.7%
Return on Equity	-6.2%
Current Ratio	0.61
Revenue Growth (YoY)	-10.6%
EPS Growth (YoY)	271.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.63 (distress)

Valuation vs Sector & Industry
Sector P/E (Energy)	16.8
Industry P/E (Petroleum & Natural Gas)	16.7

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($10.84M)
Institutional Holders Tracked	10

Company
Sector	Energy
Industry	Petroleum & Natural Gas
CEO	Kelly W. Loyd
Employees	11
Country	US
IPO Date	1996-04-11

Related Companies (Business model: Exploration & Production (Upstream Oil & Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.