Eclipse Resources Corp. (NYSE:ECR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $4.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.36% from the stock’s previous close.
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. “
ECR has been the subject of several other reports. GMP Securities started coverage on Eclipse Resources Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $7.00 price target for the company. Piper Jaffray Cos. upgraded Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating in a research report on Tuesday, August 9th. BMO Capital Markets reiterated a “hold” rating and set a $4.00 price target on shares of Eclipse Resources Corp. in a research report on Tuesday, July 5th. Barclays PLC lifted their price target on Eclipse Resources Corp. from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Thursday, July 14th. Finally, Seaport Global Securities upgraded Eclipse Resources Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $1.25 to $4.25 in a research report on Tuesday, June 7th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.29.
Eclipse Resources Corp. (NYSE:ECR) opened at 3.56 on Tuesday. The company’s 50 day moving average price is $3.40 and its 200-day moving average price is $2.89. The company’s market capitalization is $927.70 million. Eclipse Resources Corp. has a 52 week low of $0.65 and a 52 week high of $4.42.
Eclipse Resources Corp. (NYSE:ECR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.08) by $0.25. The company had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $51.49 million. Eclipse Resources Corp. had a negative net margin of 431.72% and a negative return on equity of 32.33%. The firm’s revenue was down 36.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share. Equities research analysts expect that Eclipse Resources Corp. will post ($0.26) earnings per share for the current year.
In other Eclipse Resources Corp. news, insider Benjamin Ward Hulburt sold 58,979 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $3.59, for a total transaction of $211,734.61. Following the transaction, the insider now owns 834,772 shares of the company’s stock, valued at $2,996,831.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Sanders Morris Harris Inc. increased its stake in Eclipse Resources Corp. by 11.7% in the second quarter. Sanders Morris Harris Inc. now owns 3,234,277 shares of the company’s stock worth $10,803,000 after buying an additional 339,500 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Eclipse Resources Corp. by 15,620.4% in the first quarter. JPMorgan Chase & Co. now owns 1,355,100 shares of the company’s stock worth $1,951,000 after buying an additional 1,346,480 shares in the last quarter. Geduld E E acquired a new stake in Eclipse Resources Corp. during the second quarter worth approximately $167,000. Bank of New York Mellon Corp increased its stake in Eclipse Resources Corp. by 58.2% in the second quarter. Bank of New York Mellon Corp now owns 891,811 shares of the company’s stock worth $2,979,000 after buying an additional 328,125 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Eclipse Resources Corp. during the first quarter worth approximately $202,000. 32.86% of the stock is currently owned by institutional investors.
About Eclipse Resources Corp.
Eclipse Resources Corporation (Eclipse) is an independent exploration and production company. The Company is engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin. The Company has assembled an acreage position approximating 221,700 net acres in Eastern Ohio.
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