Scotiabank Reiterates $4.00 Price Target for Eclipse Resources (ECR)
A number of other equities research analysts have also recently weighed in on ECR. Goldman Sachs Group cut Eclipse Resources from a neutral rating to a sell rating and reduced their price objective for the company from $2.25 to $1.50 in a research note on Friday, September 8th. Stifel Nicolaus reiterated a buy rating and issued a $4.00 price objective on shares of Eclipse Resources in a research note on Thursday, September 14th. Royal Bank of Canada reiterated a buy rating and issued a $3.50 price objective on shares of Eclipse Resources in a research note on Friday, September 15th. Zacks Investment Research upgraded Eclipse Resources from a hold rating to a buy rating and set a $3.00 price objective for the company in a research note on Tuesday, October 3rd. Finally, BMO Capital Markets set a $3.00 price objective on Eclipse Resources and gave the company a hold rating in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $2.96.
Shares of Eclipse Resources (NYSE:ECR) traded down $0.08 on Tuesday, reaching $2.17. The company had a trading volume of 312,177 shares, compared to its average volume of 816,457. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. Eclipse Resources has a 52-week low of $1.60 and a 52-week high of $3.10.
Eclipse Resources (NYSE:ECR) last announced its quarterly earnings results on Wednesday, November 8th. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. The firm had revenue of $91.55 million during the quarter, compared to the consensus estimate of $90.67 million. Eclipse Resources had a negative return on equity of 3.00% and a negative net margin of 11.46%. The firm’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) earnings per share. sell-side analysts predict that Eclipse Resources will post -0.07 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its stake in shares of Eclipse Resources by 192.4% during the third quarter. Chicago Partners Investment Group LLC now owns 77,651 shares of the energy producer’s stock worth $194,000 after purchasing an additional 51,098 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Eclipse Resources by 120.5% during the third quarter. GSA Capital Partners LLP now owns 45,304 shares of the energy producer’s stock worth $113,000 after purchasing an additional 24,754 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Eclipse Resources during the third quarter worth approximately $179,000. Dimensional Fund Advisors LP raised its stake in shares of Eclipse Resources by 31.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,987,793 shares of the energy producer’s stock worth $9,970,000 after purchasing an additional 949,886 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of Eclipse Resources during the third quarter worth approximately $101,000. Institutional investors and hedge funds own 92.53% of the company’s stock.
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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.
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