Eclipse Resources Corporation’s (ECR) Hold Rating Reiterated at Scotiabank
Eclipse Resources Corporation (NYSE:ECR)‘s stock had its “hold” rating reaffirmed by equities researchers at Scotiabank in a research note issued to investors on Friday. They currently have a $3.00 price target on the energy producer’s stock. Scotiabank’s price objective would suggest a potential upside of 14.94% from the company’s previous close.
Several other equities research analysts have also weighed in on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Eclipse Resources Corporation from a “neutral” rating to a “sell” rating and cut their target price for the stock from $2.25 to $1.50 in a report on Friday, September 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $4.00 target price on shares of Eclipse Resources Corporation in a report on Thursday, September 14th. Royal Bank of Canada reiterated a “buy” rating and issued a $3.50 target price on shares of Eclipse Resources Corporation in a report on Friday, September 15th. BidaskClub lowered shares of Eclipse Resources Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, KeyCorp set a $3.00 target price on shares of Eclipse Resources Corporation and gave the stock a “buy” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Eclipse Resources Corporation currently has a consensus rating of “Hold” and a consensus price target of $2.87.
Shares of Eclipse Resources Corporation (ECR) traded up $0.05 during mid-day trading on Friday, reaching $2.61. 867,800 shares of the company’s stock were exchanged, compared to its average volume of 844,345. Eclipse Resources Corporation has a 1 year low of $1.60 and a 1 year high of $3.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.
Eclipse Resources Corporation (NYSE:ECR) last posted its earnings results on Wednesday, November 8th. The energy producer reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The company had revenue of $91.55 million for the quarter, compared to analyst estimates of $90.67 million. Eclipse Resources Corporation had a negative net margin of 11.46% and a negative return on equity of 3.01%. The business’s revenue for the quarter was up 68.4% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. equities analysts anticipate that Eclipse Resources Corporation will post -0.06 earnings per share for the current year.
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Several large investors have recently modified their holdings of ECR. Dimensional Fund Advisors LP raised its holdings in shares of Eclipse Resources Corporation by 51.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,037,907 shares of the energy producer’s stock worth $8,690,000 after acquiring an additional 1,028,904 shares during the period. Rubric Capital Management LP increased its stake in Eclipse Resources Corporation by 47.6% in the 2nd quarter. Rubric Capital Management LP now owns 2,509,400 shares of the energy producer’s stock valued at $7,177,000 after buying an additional 809,400 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Eclipse Resources Corporation by 185.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,124,592 shares of the energy producer’s stock valued at $3,216,000 after buying an additional 730,285 shares during the last quarter. AQR Capital Management LLC increased its stake in Eclipse Resources Corporation by 107.8% in the 1st quarter. AQR Capital Management LLC now owns 1,015,502 shares of the energy producer’s stock valued at $2,580,000 after buying an additional 526,735 shares during the last quarter. Finally, Boston Partners increased its stake in Eclipse Resources Corporation by 21.0% in the 3rd quarter. Boston Partners now owns 2,895,330 shares of the energy producer’s stock valued at $7,239,000 after buying an additional 501,660 shares during the last quarter. Institutional investors and hedge funds own 93.75% of the company’s stock.
About Eclipse Resources Corporation
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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