Eclipse Resources Corp. (ECR) Now Covered by GMP Securities
Analysts at GMP Securities initiated coverage on shares of Eclipse Resources Corp. (NYSE:ECR) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $7.00 price target on the stock. GMP Securities’ price objective points to a potential upside of 114.72% from the company’s current price.
Other analysts also recently issued reports about the stock. Johnson Rice raised shares of Eclipse Resources Corp. from a “hold” rating to an “accumulate” rating in a report on Friday, June 10th. 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 report on Tuesday, August 9th. Zacks Investment Research raised shares of Eclipse Resources Corp. from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Wednesday, June 15th. Seaport Global Securities raised shares of Eclipse Resources Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $1.25 to $4.25 in a report on Tuesday, June 7th. Finally, 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 report on Thursday, July 14th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Eclipse Resources Corp. currently has an average rating of “Hold” and an average price target of $3.31.
Shares of Eclipse Resources Corp. (NYSE:ECR) opened at 3.26 on Wednesday. The firm’s market capitalization is $849.53 million. Eclipse Resources Corp. has a 12-month low of $0.65 and a 12-month high of $4.42. The company has a 50-day moving average price of $3.41 and a 200-day moving average price of $2.81.
Eclipse Resources Corp. (NYSE:ECR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.25. Eclipse Resources Corp. had a negative return on equity of 32.33% and a negative net margin of 431.72%. The company had revenue of $47.10 million for the quarter, compared to the consensus estimate of $51.49 million. During the same period in the prior year, the firm posted ($0.19) earnings per share. The business’s revenue was down 36.8% on a year-over-year basis. Equities analysts predict that Eclipse Resources Corp. will post ($0.26) EPS for the current year.
In related news, insider Benjamin Ward Hulburt sold 58,979 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $3.59, for a total transaction of $211,734.61. Following the transaction, the insider now owns 834,772 shares in the company, valued at $2,996,831.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.
Several institutional investors have recently made changes to their positions in ECR. Schwab Charles Investment Management Inc. boosted its position in shares of Eclipse Resources Corp. by 102.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 138,930 shares of the company’s stock valued at $465,000 after buying an additional 70,330 shares in the last quarter. Advisory Research Inc. boosted its stake in shares of Eclipse Resources Corp. by 79.0% in the second quarter. Advisory Research Inc. now owns 2,342,722 shares of the company’s stock worth $7,825,000 after buying an additional 1,034,030 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Eclipse Resources Corp. during the second quarter worth $141,000. Highbridge Capital Management LLC acquired a new stake in shares of Eclipse Resources Corp. during the second quarter worth $1,066,000. Finally, Jane Street Group LLC acquired a new stake in shares of Eclipse Resources Corp. during the second quarter worth $205,000. 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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