EON Resources (NYSEAMERICAN:EONR) Director Joseph Salvucci, Jr. Purchases 30,000 Shares

EON Resources Inc. (NYSEAMERICAN:EONR) Director Joseph Salvucci, Jr. bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average price of $0.41 per share, for a total transaction of $12,300.00. Following the completion of the transaction, the director directly owned 347,784 shares of the company’s stock, valued at $142,591.44. This represents a 9.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

EON Resources Stock Up 7.0%

EON Resources stock traded up $0.03 during midday trading on Wednesday, reaching $0.43. 779,756 shares of the stock traded hands, compared to its average volume of 3,758,221. The stock’s fifty day moving average is $0.49 and its 200-day moving average is $0.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.35 and a quick ratio of 0.35. EON Resources Inc. has a 12 month low of $0.27 and a 12 month high of $1.90.

Analysts Set New Price Targets

Separately, D. Boral Capital reiterated a “buy” rating and set a $2.00 target price on shares of EON Resources in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $2.00.

Institutional Investors Weigh In On EON Resources

A hedge fund recently bought a new stake in EON Resources stock. XTX Topco Ltd bought a new stake in shares of EON Resources Inc. (NYSEAMERICAN:EONR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 64,098 shares of the company’s stock, valued at approximately $31,000. Institutional investors own 33.51% of the company’s stock.

About EON Resources

EON Resources Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and production of oil and natural gas properties in the Permian Basin. It holds a 100% working interest in the property that consists of 343 wells producing oil and gas, as well as 207 injection wells covering an area of approximately 13,700 contiguous acres.