Eclipse Resources Corp Given Consensus Recommendation of “Buy” by Brokerages (NYSE:ECR)
Shares of Eclipse Resources Corp (NYSE:ECR) have received a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the company, American Banking News.com reports. One analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $27.73.
Shares of Eclipse Resources Corp (NYSE:ECR) opened at 18.05 on Monday. Eclipse Resources Corp has a 52 week low of $17.26 and a 52 week high of $27.18. The stock’s 50-day moving average is $20.35 and its 200-day moving average is $21.5. The company’s market cap is $2.888 billion. Eclipse Resources Corp also was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 1,090,553 shares, a drop of 40.6% from the July 31st total of 1,837,197 shares. Based on an average trading volume of 872,924 shares, the days-to-cover ratio is currently 1.2 days. Currently, 3.6% of the shares of the stock are sold short.
A number of analysts have recently weighed in on ECR shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Eclipse Resources Corp in a research note on Friday, August 22nd. They now have a $25.00 price target on the stock, down previously from $30.00. Separately, analysts at Barclays cut their price target on shares of Eclipse Resources Corp from $31.00 to $27.00 in a research note on Thursday, August 21st. They now have an “overweight” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of Eclipse Resources Corp from $3.00 to $22.00 in a research note on Monday, August 18th.
Eclipse Resources Corporation is an independent exploration and production company engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin.
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