U.S. Energy (NASDAQ:USEG) Issues Earnings Results, Meets Expectations

U.S. Energy (NASDAQ:USEG) posted its earnings results on Friday. The energy company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06), FiscalAI reports. The firm had revenue of $1.39 million during the quarter. U.S. Energy had a negative net margin of 240.93% and a negative return on equity of 70.53%.

U.S. Energy Trading Up 3.3%

Shares of NASDAQ USEG traded up $0.04 during midday trading on Friday, reaching $1.09. 7,201,915 shares of the stock were exchanged, compared to its average volume of 6,517,243. The stock has a 50 day moving average price of $1.04 and a 200-day moving average price of $1.08. The company has a market capitalization of $48.03 million, a P/E ratio of -1.31 and a beta of 0.55. U.S. Energy has a 52-week low of $0.91 and a 52-week high of $2.75.

Insider Transactions at U.S. Energy

In other U.S. Energy news, major shareholder Joshua Lane Batchelor sold 265,170 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $1.37, for a total value of $363,282.90. Following the sale, the insider directly owned 78,299 shares of the company’s stock, valued at approximately $107,269.63. This trade represents a 77.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 61.00% of the company’s stock.

Institutional Investors Weigh In On U.S. Energy

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd increased its holdings in U.S. Energy by 61.5% in the 2nd quarter. XTX Topco Ltd now owns 44,841 shares of the energy company’s stock valued at $63,000 after purchasing an additional 17,080 shares in the last quarter. Two Sigma Investments LP purchased a new position in U.S. Energy in the third quarter valued at about $54,000. Citadel Advisors LLC acquired a new position in shares of U.S. Energy during the third quarter worth about $26,000. Finally, State Street Corp boosted its position in shares of U.S. Energy by 49.6% in the fourth quarter. State Street Corp now owns 47,371 shares of the energy company’s stock worth $44,000 after buying an additional 15,700 shares during the period. 3.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on USEG shares. D. Boral Capital reiterated a “buy” rating and issued a $3.50 price target on shares of U.S. Energy in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of U.S. Energy in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.50.

U.S. Energy Company Profile

U.S. Energy Corp. (NASDAQ: USEG) is an independent oil and natural gas exploration and production company that acquires, develops and operates hydrocarbon properties across onshore regions in the United States. The company’s activities encompass geological evaluation, drilling, completion and working-interest management, with an emphasis on cost-efficient development of discovered reserves and maximizing production from existing assets.

Over time, U.S. Energy has pursued growth through disciplined lease acquisitions, joint-venture partnerships and targeted drilling programs.