Eclipse Resources Corp. (ECR) Trading 5.2% Higher
Eclipse Resources Corp. (NYSE:ECR)’s share price traded up 5.2% on Wednesday . The company traded as high as $3.31 and last traded at $3.23, with a volume of 495,425 shares trading hands. The stock had previously closed at $3.07.
A number of equities analysts have weighed in on the company. Simmons upgraded Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $3.00 to $4.00 in a research note on Tuesday, August 9th. Seaport Global Securities upgraded Eclipse Resources Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $1.25 to $4.25 in a research note on Tuesday, June 7th. Barclays PLC lifted their price target on Eclipse Resources Corp. from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Thursday, July 14th. Zacks Investment Research upgraded Eclipse Resources Corp. from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research note on Wednesday, June 15th. Finally, BMO Capital Markets restated a “hold” rating and issued a $4.00 price target on shares of Eclipse Resources Corp. in a research note on Tuesday, July 5th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $3.00.
The company’s market cap is $878.19 million. The firm has a 50-day moving average of $3.42 and a 200 day moving average of $2.72.
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Eclipse Resources Corp. (NYSE:ECR) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.25. The firm earned $47.10 million during the quarter, compared to analyst estimates of $51.49 million. Eclipse Resources Corp. had a negative net margin of 431.72% and a negative return on equity of 32.33%. Eclipse Resources Corp.’s revenue for the quarter was down 36.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) EPS. On average, equities analysts predict that Eclipse Resources Corp. will post ($0.26) earnings per share for the current year.
In related news, insider Benjamin Ward Hulburt sold 58,979 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $3.59, for a total value of $211,734.61. Following the completion of the sale, the insider now owns 834,772 shares in the company, valued at $2,996,831.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 worth $465,000 after buying an additional 70,330 shares during the period. Advisory Research Inc. boosted its position 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 bought a new position in shares of Eclipse Resources Corp. during the second quarter worth about $141,000. Highbridge Capital Management LLC bought a new position in shares of Eclipse Resources Corp. during the second quarter worth about $1,066,000. Finally, Jane Street Group LLC bought a new position in shares of Eclipse Resources Corp. during the second quarter worth about $205,000. 32.86% of the stock is owned by institutional investors.
Eclipse Resources Corp. Company Profile
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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