Zacks Investment Research upgraded shares of Eclipse Resources (NYSE:ECR) from a sell rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Eclipse Resources Corporation is an independent exploration and production company. It is engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin. Eclipse Resources Corporation is headquartered in State College, Pennsylvania. “
Other analysts have also issued reports about the company. Scotiabank set a $4.00 price target on Eclipse Resources and gave the stock a hold rating in a research note on Tuesday, December 12th. KeyCorp set a $3.00 price target on Eclipse Resources and gave the stock a buy rating in a research note on Wednesday, February 28th. Seaport Global Securities raised Eclipse Resources from a neutral rating to a buy rating in a research note on Tuesday, December 19th. Finally, Johnson Rice raised Eclipse Resources from an accumulate rating to a buy rating in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $3.23.
Eclipse Resources (NYSE:ECR) last issued its quarterly earnings results on Wednesday, February 28th. The energy producer reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $104.06 million for the quarter, compared to analyst estimates of $101.37 million. Eclipse Resources had a negative return on equity of 1.34% and a net margin of 2.22%. The business’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. research analysts anticipate that Eclipse Resources will post -0.09 EPS for the current fiscal year.
In related news, major shareholder Encap Energy Capital Fund Viii acquired 37,823,596 shares of the stock in a transaction on Thursday, January 18th. The shares were bought at an average price of $2.44 per share, with a total value of $92,289,574.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Oleg E. Tolmachev sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $1.62, for a total value of $81,000.00. Following the transaction, the chief operating officer now directly owns 594,051 shares in the company, valued at approximately $962,362.62. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECR. Macquarie Group Ltd. acquired a new position in Eclipse Resources during the third quarter worth $101,000. GSA Capital Partners LLP boosted its stake in Eclipse Resources by 120.5% during the third quarter. GSA Capital Partners LLP now owns 45,304 shares of the energy producer’s stock worth $113,000 after buying an additional 24,754 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Eclipse Resources during the fourth quarter worth $113,000. Bank of Montreal Can acquired a new position in Eclipse Resources during the fourth quarter worth $117,000. Finally, Virtu Financial LLC acquired a new position in Eclipse Resources during the fourth quarter worth $141,000. 80.68% of the stock is currently owned by institutional investors.
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About Eclipse Resources
Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company holds interests in the Utica Shale and Marcellus Shale areas. As of December 31, 2017, it had an acreage position approximately covering an area of 203,000 net acres in Eastern Ohio.
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