Eclipse Resources Corp. (ECR) Now Covered by GMP Securities
Investment analysts at GMP Securities assumed coverage on shares of Eclipse Resources Corp. (NYSE:ECR) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $7.00 price target on the stock. GMP Securities’ price objective indicates a potential upside of 114.72% from the stock’s current price.
A number of other research analysts also recently commented on the stock. Piper Jaffray Cos. raised shares of Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating in a research report on Tuesday, August 9th. Simmons raised shares of Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $4.00 in a research report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Eclipse Resources Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Barclays PLC lifted their price objective on shares of Eclipse Resources Corp. from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Eclipse Resources Corp. in a research report on Tuesday, July 5th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.31.
Eclipse Resources Corp. (NYSE:ECR) opened at 3.26 on Wednesday. The company’s market capitalization is $849.53 million. The firm has a 50-day moving average of $3.41 and a 200 day moving average of $2.81. 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 posted its earnings results on Tuesday, August 2nd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.25. The business 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 company’s revenue for the quarter was down 36.8% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. Equities analysts predict that Eclipse Resources Corp. will post ($0.26) earnings per share for the current fiscal year.
In other Eclipse Resources Corp. news, insider Benjamin Ward Hulburt sold 58,979 shares of Eclipse Resources Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $3.59, for a total transaction of $211,734.61. Following the completion of the sale, the insider now directly owns 834,772 shares in the company, valued at approximately $2,996,831.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.
Several institutional investors have recently bought and sold shares of ECR. Sanders Morris Harris Inc. boosted its position 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 valued at $10,803,000 after buying an additional 339,500 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 valued at $1,951,000 after buying an additional 1,346,480 shares in the last quarter. Geduld E E purchased a new position in Eclipse Resources Corp. during the second quarter valued at about $167,000. Jacobs Levy Equity Management Inc. purchased a new position in Eclipse Resources Corp. during the first quarter valued at about $202,000. Finally, Renaissance Technologies LLC purchased a new position in Eclipse Resources Corp. during the first quarter valued at about $156,000. Hedge funds and other institutional investors own 32.86% of the company’s stock.
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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