Insider Buying: Eclipse Resources Corp (ECR) Major Shareholder Acquires 37,823,596 Shares of Stock

Eclipse Resources Corp (NYSE:ECR) major shareholder Encap Energy Capital Fund Viii purchased 37,823,596 shares of the company’s stock in a transaction dated Thursday, January 18th. The stock was bought at an average cost of $2.44 per share, for a total transaction of $92,289,574.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Eclipse Resources Corp (NYSE:ECR) traded up $0.05 during trading on Monday, reaching $2.33. 392,652 shares of the company’s stock traded hands, compared to its average volume of 583,011. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $606.93, a P/E ratio of -14.56 and a beta of 3.06. Eclipse Resources Corp has a 52-week low of $1.60 and a 52-week high of $3.10.

Eclipse Resources (NYSE:ECR) last posted its earnings results on Wednesday, November 8th. The energy producer reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The firm had revenue of $91.55 million for the quarter, compared to the consensus estimate of $90.67 million. Eclipse Resources had a negative net margin of 18.24% and a negative return on equity of 11.35%. The business’s quarterly revenue was up 68.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. equities research analysts forecast that Eclipse Resources Corp will post -0.07 EPS for the current year.

A number of institutional investors have recently bought and sold shares of ECR. Macquarie Group Ltd. acquired a new position in Eclipse Resources during the third quarter worth $101,000. Voya Investment Management LLC boosted its holdings in Eclipse Resources by 83.3% during the second quarter. Voya Investment Management LLC now owns 38,699 shares of the energy producer’s stock valued at $111,000 after acquiring an additional 17,591 shares during the period. GSA Capital Partners LLP boosted its holdings in Eclipse Resources by 120.5% during the third quarter. GSA Capital Partners LLP now owns 45,304 shares of the energy producer’s stock valued at $113,000 after acquiring an additional 24,754 shares during the period. Bank of Montreal Can bought a new stake in Eclipse Resources during the fourth quarter valued at about $117,000. Finally, New York State Common Retirement Fund boosted its holdings in Eclipse Resources by 27.5% during the second quarter. New York State Common Retirement Fund now owns 56,100 shares of the energy producer’s stock valued at $160,000 after acquiring an additional 12,099 shares during the period. 92.52% of the stock is currently owned by hedge funds and other institutional investors.

ECR has been the topic of a number of research reports. Johnson Rice raised shares of Eclipse Resources from an “accumulate” rating to a “buy” rating in a research note on Monday, December 11th. Seaport Global Securities raised shares of Eclipse Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Scotiabank set a $4.00 price target on shares of Eclipse Resources and gave the stock a “hold” rating in a research note on Tuesday, December 12th. KeyCorp set a $3.00 price target on shares of Eclipse Resources and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of Eclipse Resources in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Eclipse Resources currently has an average rating of “Hold” and a consensus price target of $3.23.

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About Eclipse Resources

Eclipse Resources Corporation 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 is the operator of the Utica Core Area and its Marcellus Project Area. The Ordovician-aged Utica Shale is an unconventional reservoir consisting of organic-rich black shale, with production occurring at vertical depths between 6,000 and 10,000 feet.

Insider Buying and Selling by Quarter for Eclipse Resources (NYSE:ECR)

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