Eclipse Resources (ECR) Shares Up -1.4%

Eclipse Resources Corp (NYSE:ECR)’s share price shot up 1.4% during trading on Thursday . The company traded as high as $1.43 and last traded at $1.39. 320,909 shares changed hands during trading, a decline of 60% from the average session volume of 809,226 shares. The stock had previously closed at $1.41.

A number of brokerages recently commented on ECR. Zacks Investment Research downgraded Eclipse Resources from a “hold” rating to a “sell” rating in a research report on Friday, March 9th. KeyCorp set a $3.00 price objective on Eclipse Resources and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Seaport Global Securities upgraded Eclipse Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Scotiabank set a $4.00 target price on Eclipse Resources and gave the stock a “hold” rating in a research note on Tuesday, December 12th. Finally, Johnson Rice raised Eclipse Resources from an “accumulate” rating to a “buy” rating in a research note on Monday, December 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Eclipse Resources has an average rating of “Hold” and a consensus price target of $3.23.

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The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market cap of $425.50, a P/E ratio of 43.67 and a beta of 2.86.

Eclipse Resources (NYSE:ECR) last posted its earnings results on Wednesday, February 28th. The energy producer reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $104.06 million during the quarter, compared to analysts’ expectations of $101.37 million. Eclipse Resources had a negative return on equity of 1.34% and a net margin of 2.22%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) earnings per share. sell-side analysts predict that Eclipse Resources Corp will post -0.08 EPS for the current year.

In other news, COO Oleg E. Tolmachev sold 50,000 shares of Eclipse Resources 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 completion of the sale, the chief operating officer now directly owns 594,051 shares of the company’s stock, valued at $962,362.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Encap Energy Capital Fund Viii acquired 37,823,596 shares of the company’s stock in a transaction dated Thursday, January 18th. The stock was purchased at an average cost of $2.44 per share, with a total value of $92,289,574.24. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund grew its stake in shares of Eclipse Resources by 27.5% in the second quarter. New York State Common Retirement Fund now owns 56,100 shares of the energy producer’s stock valued at $160,000 after buying an additional 12,099 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Eclipse Resources by 83.3% in the second quarter. Voya Investment Management LLC now owns 38,699 shares of the energy producer’s stock valued at $111,000 after buying an additional 17,591 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of Eclipse Resources by 120.5% in the third quarter. GSA Capital Partners LLP now owns 45,304 shares of the energy producer’s stock valued at $113,000 after buying an additional 24,754 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Eclipse Resources by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 763,891 shares of the energy producer’s stock valued at $1,833,000 after buying an additional 31,091 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Eclipse Resources by 63.5% in the second quarter. The Manufacturers Life Insurance Company now owns 83,920 shares of the energy producer’s stock valued at $240,000 after buying an additional 32,583 shares in the last quarter. 80.65% of the stock is owned by institutional investors and hedge funds.

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About Eclipse Resources

Eclipse Resources Corporation 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 is the operator of the Utica Core Area and its Marcellus Project Area. The Ordovician-aged Utica Shale is an unconventional reservoir consisting of organic-rich black shale, with production occurring at vertical depths between 6,000 and 10,000 feet.

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