Lilis Energy Inc (LLEX) Receives Average Rating of “Buy” from Brokerages
Shares of Lilis Energy Inc (NYSEAMERICAN:LLEX) have been given a consensus recommendation of “Buy” by the ten brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $6.56.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered Lilis Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. B. Riley assumed coverage on Lilis Energy in a research report on Tuesday, February 6th. They set a “buy” rating and a $5.50 target price on the stock.
Several hedge funds have recently made changes to their positions in LLEX. Vertex One Asset Management Inc. increased its holdings in shares of Lilis Energy by 1.3% in the fourth quarter. Vertex One Asset Management Inc. now owns 7,189,480 shares of the company’s stock valued at $36,738,000 after purchasing an additional 89,119 shares during the period. Deutsche Bank AG boosted its stake in shares of Lilis Energy by 123.0% in the fourth quarter. Deutsche Bank AG now owns 93,984 shares of the company’s stock worth $479,000 after buying an additional 51,840 shares during the last quarter. Wolverine Trading LLC boosted its stake in shares of Lilis Energy by 411.0% in the third quarter. Wolverine Trading LLC now owns 61,188 shares of the company’s stock worth $274,000 after buying an additional 49,214 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Lilis Energy by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 331,987 shares of the company’s stock worth $1,696,000 after buying an additional 27,331 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Lilis Energy by 1.3% in the fourth quarter. BlackRock Inc. now owns 2,019,513 shares of the company’s stock worth $10,320,000 after buying an additional 25,730 shares during the last quarter.
Lilis Energy declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 21st that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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About Lilis Energy
Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.
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