Zacks Investment Research upgraded shares of Lilis Energy Inc (NASDAQ:LLEX) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Lilis Energy, Inc. is an independent oil and gas exploration and production company. It is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the DJ Basin. Lilis Energy, Inc., formerly known as Recovery Energy, Inc., is based in Denver. “

Several other research firms have also recently commented on LLEX. Northland Securities raised Lilis Energy from a market perform rating to an outperform rating and set a $6.00 target price for the company in a research note on Monday, August 28th. Leerink Swann initiated coverage on Lilis Energy in a research note on Monday, August 28th. They set an outperform rating and a $6.00 target price for the company. Stephens initiated coverage on Lilis Energy in a research note on Friday, September 29th. They set an overweight rating and a $6.00 target price for the company. Williams Capital initiated coverage on Lilis Energy in a research note on Tuesday, September 26th. They set a buy rating and a $7.00 target price for the company. Finally, SunTrust Banks, Inc. initiated coverage on Lilis Energy in a research note on Monday, August 14th. They set a buy rating and a $7.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $6.71.

Shares of Lilis Energy (LLEX) opened at 4.85 on Tuesday. Lilis Energy has a 52 week low of $2.10 and a 52 week high of $5.69. The company’s 50 day moving average price is $4.41 and its 200-day moving average price is $4.45. The stock’s market capitalization is $246.47 million.

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In other Lilis Energy news, major shareholder Fund Vertex sold 10,720 shares of Lilis Energy stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $5.01, for a total transaction of $53,707.20. Following the completion of the sale, the insider now directly owns 6,962,640 shares of the company’s stock, valued at approximately $34,882,826.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Asset Management Inc. lifted its holdings in Lilis Energy by 22.7% during the 2nd quarter. National Asset Management Inc. now owns 21,600 shares of the company’s stock worth $106,000 after buying an additional 4,000 shares during the last quarter. Nationwide Fund Advisors purchased a new stake in Lilis Energy during the 2nd quarter worth about $117,000. Biegel & Waller LLC purchased a new stake in Lilis Energy during the 2nd quarter worth about $123,000. The Manufacturers Life Insurance Company purchased a new stake in Lilis Energy during the 2nd quarter worth about $180,000. Finally, Rhumbline Advisers purchased a new stake in Lilis Energy during the 2nd quarter worth about $219,000.

Lilis Energy Company Profile

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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Analyst Recommendations for Lilis Energy (NASDAQ:LLEX)

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