Eclipse Resources (ECR) Hits New 12-Month Low at $1.27

Eclipse Resources (NYSE:ECR) reached a new 52-week low on Monday . The company traded as low as $1.27 and last traded at $1.28, with a volume of 477527 shares. The stock had previously closed at $1.31.

A number of research firms have recently weighed in 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 target price on Eclipse Resources and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Scotiabank set a $4.00 target price on Eclipse Resources and gave the stock a “hold” rating in a research report on Tuesday, December 12th. Seaport Global Securities upgraded Eclipse Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Johnson Rice upgraded Eclipse Resources from an “accumulate” rating to a “buy” rating in a research report on Monday, December 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $3.23.

The firm has a market capitalization of $395.32, a price-to-earnings ratio of 43.67 and a beta of 2.86. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Eclipse Resources (NYSE:ECR) last released its quarterly earnings data on Wednesday, February 28th. The energy producer reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $104.06 million during the quarter, compared to the consensus estimate 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 revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. sell-side analysts predict that Eclipse Resources will post -0.08 earnings per share for the current year.

In other Eclipse Resources news, major shareholder Encap Energy Capital Fund Viii purchased 37,823,596 shares of the stock in a transaction on Thursday, January 18th. The stock was bought at an average cost of $2.44 per share, for a total transaction of $92,289,574.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Oleg E. Tolmachev sold 50,000 shares of the stock in a transaction dated 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 owns 594,051 shares of the company’s stock, valued at $962,362.62. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in ECR. New York State Common Retirement Fund increased its holdings 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 worth $160,000 after acquiring an additional 12,099 shares in the last quarter. State Street Corp increased its holdings in shares of Eclipse Resources by 46.6% in the second quarter. State Street Corp now owns 1,253,137 shares of the energy producer’s stock worth $3,583,000 after acquiring an additional 398,046 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings 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 worth $240,000 after acquiring an additional 32,583 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Eclipse Resources by 35.0% in the second quarter. California State Teachers Retirement System now owns 154,808 shares of the energy producer’s stock worth $443,000 after acquiring an additional 40,100 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Eclipse Resources by 47.9% in the third quarter. Russell Investments Group Ltd. now owns 1,497,129 shares of the energy producer’s stock worth $3,743,000 after acquiring an additional 485,162 shares in the last quarter. Institutional investors own 80.65% of the company’s stock.

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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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