Shares of Eclipse Resources Corp. (NYSE:ECR) traded down 4.9% during mid-day trading on Monday . The company traded as low as $3.06 and last traded at $3.11, with a volume of 606,518 shares. The stock had previously closed at $3.27.
A number of analysts have issued reports on the company. Zacks Investment Research raised Eclipse Resources Corp. from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Wednesday, June 15th. Johnson Rice raised Eclipse Resources Corp. from a “hold” rating to an “accumulate” rating in a research note on Friday, June 10th. Simmons raised Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $3.00 to $4.00 in a research note on Tuesday, August 9th. Piper Jaffray Cos. raised Eclipse Resources Corp. from an “underweight” rating to a “neutral” rating in a research note on Tuesday, August 9th. Finally, Barclays PLC raised their target price on Eclipse Resources Corp. from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 14th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Eclipse Resources Corp. currently has an average rating of “Hold” and an average target price of $3.00.
The stock’s market capitalization is $800.01 million. The firm’s 50-day moving average is $3.42 and its 200-day moving average is $2.72.
Eclipse Resources Corp. (NYSE:ECR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 earned $47.10 million during the quarter, compared to analysts’ expectations of $51.49 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The firm’s revenue was down 36.8% compared to the same quarter last year. On average, analysts anticipate that Eclipse Resources Corp. will post ($0.26) earnings per share for the current year.
In other news, insider Benjamin Ward Hulburt sold 58,979 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $3.59, for a total value of $211,734.61. Following the sale, the insider now directly owns 834,772 shares in the company, valued at $2,996,831.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of ECR. Sanders Morris Harris Inc. bought a new stake in shares of Eclipse Resources Corp. during the first quarter valued at about $4,168,000. Marshall Wace LLP bought a new stake in shares of Eclipse Resources Corp. during the second quarter valued at about $7,810,000. UBS Oconnor LLC increased its stake in shares of Eclipse Resources Corp. by 673.9% in the second quarter. UBS Oconnor LLC now owns 2,606,638 shares of the company’s stock valued at $8,706,000 after buying an additional 2,269,827 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Eclipse Resources Corp. during the second quarter valued at about $7,348,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Eclipse Resources Corp. by 15,620.4% in the first quarter. JPMorgan Chase & Co. now owns 1,355,100 shares of the company’s stock valued at $1,951,000 after buying an additional 1,346,480 shares in the last quarter. Institutional investors and hedge funds 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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