Eclipse Resources Corp. (ECR) Cut to Hold at Zacks Investment Research
Eclipse Resources Corp. (NYSE:ECR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Eclipse Resources Corporation is an independent exploration and production company. It is engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin. Eclipse Resources Corporation is headquartered in State College, Pennsylvania. “
Several other analysts also recently commented on ECR. Simmons raised Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $3.00 to $4.00 in a research note on Tuesday, August 9th. GMP Securities began coverage on Eclipse Resources Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $7.00 target price on the stock. Piper Jaffray Cos. upgraded Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating in a research report on Tuesday, August 9th. Barclays PLC boosted their target price on Eclipse Resources Corp. from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 14th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $4.00 target price on shares of Eclipse Resources Corp. in a research report on Tuesday, July 5th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $3.29.
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Eclipse Resources Corp. (NYSE:ECR) traded down 3.12% during trading on Tuesday, hitting $3.42. The stock had a trading volume of 564,905 shares. Eclipse Resources Corp. has a 12-month low of $0.65 and a 12-month high of $4.42. The firm’s market cap is $891.22 million. The stock’s 50 day moving average price is $3.39 and its 200 day moving average price is $2.94.
Eclipse Resources Corp. (NYSE:ECR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.25. The company had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $51.49 million. Eclipse Resources Corp. had a negative net margin of 431.72% and a negative return on equity of 32.33%. The firm’s revenue was down 36.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) earnings per share. On average, analysts anticipate that Eclipse Resources Corp. will post ($0.26) EPS for the current fiscal year.
In other Eclipse Resources Corp. news, insider Benjamin Ward Hulburt sold 58,979 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $3.59, for a total transaction of $211,734.61. Following the sale, the insider now owns 834,772 shares in the company, valued at approximately $2,996,831.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.13% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY acquired a new position in shares of Eclipse Resources Corp. during the second quarter worth $141,000. Renaissance Technologies LLC acquired a new position in shares of Eclipse Resources Corp. during the first quarter worth $156,000. Geduld E E acquired a new position in shares of Eclipse Resources Corp. during the second quarter worth $167,000. Monashee Investment Management LLC acquired a new position in shares of Eclipse Resources Corp. during the second quarter worth $167,000. Finally, KCG Holdings Inc. acquired a new position in shares of Eclipse Resources Corp. during the second quarter worth $170,000. 32.86% of the stock is currently owned by institutional investors.
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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