Everton Resources Inc (EVR) General Counsel Adam B. Frankel Sells 1,000 Shares of Stock
Everton Resources Inc (NYSE:EVR) General Counsel Adam B. Frankel sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of C$80.77, for a total value of C$80,770.00. Following the completion of the transaction, the general counsel now owns 62,401 shares of the company’s stock, valued at C$5,040,128.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Everton Resources Inc (NYSE EVR) traded up C$0.45 during mid-day trading on Friday, reaching C$80.80. The company’s stock had a trading volume of 421,090 shares, compared to its average volume of 391,149. Everton Resources Inc has a 12-month low of C$60.00 and a 12-month high of C$83.30.
Everton Resources (NYSE:EVR) last issued its earnings results on Thursday, October 26th. The company reported C$1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.10 by C$0.12. Everton Resources had a return on equity of 14.32% and a net margin of 6.90%. The company had revenue of C$402.90 million during the quarter, compared to the consensus estimate of C$373.28 million. During the same period in the previous year, the company posted $1.22 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year.
Everton Resources declared that its Board of Directors has approved a stock buyback program on Thursday, October 26th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.40 per share. This is an increase from Everton Resources’s previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Wednesday, November 22nd.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Everton Resources by 3.5% during the 2nd quarter. BlackRock Inc. now owns 6,621,562 shares of the company’s stock worth $466,819,000 after acquiring an additional 222,311 shares during the period. Vanguard Group Inc. boosted its stake in shares of Everton Resources by 20.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,749,865 shares of the company’s stock worth $264,365,000 after acquiring an additional 630,238 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Everton Resources by 6.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,316,100 shares of the company’s stock worth $92,785,000 after acquiring an additional 80,100 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Everton Resources by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,096,362 shares of the company’s stock worth $77,294,000 after acquiring an additional 63,028 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Everton Resources by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 1,039,596 shares of the company’s stock worth $73,292,000 after acquiring an additional 80,120 shares during the period.
A number of research firms have weighed in on EVR. Zacks Investment Research upgraded Everton Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Nomura raised their price target on Everton Resources from $78.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of C$79.88.
About Everton Resources
Evercore Inc, formerly Evercore Partners Inc, is a global independent investment banking advisory company. The Company advises a diverse set of investment banking clients on a wide range of transactions and issues and provides institutional investors with high quality equity research, sales and trading execution that is free of the conflicts created by proprietary activities.
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