Vertex One Asset Management Inc. increased its holdings in shares of Lilis Energy Inc (NYSEAMERICAN:LLEX) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,189,480 shares of the company’s stock after purchasing an additional 89,119 shares during the period. Lilis Energy accounts for 6.3% of Vertex One Asset Management Inc.’s investment portfolio, making the stock its 2nd largest holding. Vertex One Asset Management Inc. owned 13.47% of Lilis Energy worth $36,738,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Lilis Energy by 799.6% during the 4th quarter. Wells Fargo & Company MN now owns 26,816 shares of the company’s stock worth $137,000 after purchasing an additional 23,835 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Lilis Energy by 163.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 34,936 shares of the company’s stock worth $179,000 after purchasing an additional 21,692 shares during the period. Wolverine Trading LLC boosted its stake in Lilis Energy by 411.0% during the 3rd quarter. Wolverine Trading LLC now owns 61,188 shares of the company’s stock worth $274,000 after purchasing an additional 49,214 shares during the period. Deutsche Bank AG boosted its stake in Lilis Energy by 123.0% during the 4th quarter. Deutsche Bank AG now owns 93,984 shares of the company’s stock worth $479,000 after purchasing an additional 51,840 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Lilis Energy by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 331,987 shares of the company’s stock worth $1,696,000 after purchasing an additional 27,331 shares during the period.
Several research firms have recently commented on LLEX. B. Riley began coverage on shares of Lilis Energy in a research note on Tuesday, February 6th. They issued a “buy” rating and a $5.50 target price for the company. Zacks Investment Research cut shares of Lilis Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $6.56.
Lilis Energy announced that its board has approved a stock buyback program on Wednesday, February 21st that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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Lilis Energy Profile
Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.
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