Eclipse Resources Corp. (ECR) Downgraded 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. “
ECR has been the subject of several other reports. Piper Jaffray Cos. raised shares of Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating in a research report on Tuesday, August 9th. BMO Capital Markets reissued a “hold” rating and issued a $4.00 target price on shares of Eclipse Resources Corp. in a research report on Tuesday, July 5th. GMP Securities began coverage on shares of Eclipse Resources Corp. in a research report on Wednesday, September 28th. They issued a “buy” rating and a $7.00 target price for the company. Barclays PLC boosted their target price on shares of 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, Simmons raised shares of Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $3.00 to $4.00 in a research report on Tuesday, August 9th. 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 presently has a consensus rating of “Hold” and a consensus price target of $3.29.
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Eclipse Resources Corp. (NYSE:ECR) traded down 3.12% during midday trading on Tuesday, hitting $3.42. 564,905 shares of the stock traded hands. The company has a 50-day moving average of $3.39 and a 200-day moving average of $2.94. Eclipse Resources Corp. has a 1-year low of $0.65 and a 1-year high of $4.42. The stock’s market cap is $891.22 million.
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. Eclipse Resources Corp. had a negative net margin of 431.72% and a negative return on equity of 32.33%. The company had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $51.49 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was down 36.8% on a year-over-year basis. On average, equities analysts expect that Eclipse Resources Corp. will post ($0.26) EPS for the current fiscal year.
In related news, insider Benjamin Ward Hulburt sold 58,979 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $3.59, for a total transaction of $211,734.61. Following the completion of the transaction, the insider now directly owns 834,772 shares in the company, valued at approximately $2,996,831.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes 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 worth $465,000 after buying an additional 70,330 shares in the last quarter. 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 in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Eclipse Resources Corp. during the second quarter worth about $141,000. Highbridge Capital Management LLC acquired a new position in shares of Eclipse Resources Corp. during the second quarter worth about $1,066,000. Finally, Jane Street Group LLC acquired a new position in shares of Eclipse Resources Corp. during the second quarter worth about $205,000. Hedge funds and other 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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